NANTONG, China, Nov. 27, 2024 /PRNewswire/ -- Recently, Jiangsu Dongcheng Power Tools Co., Ltd., a well-known expert and front-runner in the Chinese power tool field, has made it onto the World Brand Lab's 19th list of Asia's 500 Most Influential Brands 2024 for the first time, ranking 461st. It has thus become the only Chinese power tool brand to be honored with this recognition.
Dongcheng Makes History as the Only Chinese Power Tool Brand to Rank Among Asia’s 500 Most Influential Brands
The "Asia's 500 Most Influential Brands" is an authoritative list selected by the world-leading brand evaluation agency, World Brand Lab. It aims to recognize the most influential and competitive brands in Asia. The evaluation criteria cover three aspects: Market Share, Brand Loyalty, and Asian Leadership, comprehensively assessing a brand's market performance and brand value.
Since its founding in 1995, Dongcheng has been firmly sticking to the corporate mission of "Trusted Quality Tools, Sincere Service". It has continuously driven technological innovation and product upgrades, committed to providing high-quality products and services to global customers and keeping up with the world in terms of top-notch Chinese products. In recent years, Dongcheng has led the way in the Chinese power tool industry with its outstanding market performance and strong brand influence. In 2023, Dongcheng achieved a sales revenue of 6.188 billion yuan, a year-on-year growth of 15.9%. In the same year, the company sold 27.1 million units of power tools, ranking first in the Chinese power tool market in terms of sales volume for 11 consecutive years and topping the Chinese lithium-ion power tool market from 2021 to 2023.
While intensively cultivating the Chinese market, Dongcheng has been actively expanding its global market footprint and winning the hearts of overseas consumers.
In 2016, Dongcheng embarked on a major overseas expansion journey. Through the coordinated operation of its three sub-brands, "DongCheng", "DCA", and "DCK", it has been vigorously promoting its internationalization process. In 2023, Dongcheng's overseas sales reached 962 million yuan, a significant year-on-year growth of 45.3%. Nowadays, Dongcheng products have been exported to more than 60 countries and regions, including Southeast Asia, South Asia, Central and East Africa, Europe, and the United States. As of the end of October 2024, Dongcheng has established over 6,800 exclusive image stores overseas.
In the Asian market, Dongcheng has delivered an especially remarkable performance. From January to October this year, Dongcheng's export value to the markets along the "Belt and Road" mainly consisting of Asian countries reached 456 million yuan, a year-on-year increase of 7.74%, which clearly shows its brand influence in Asia.
Looking ahead, Dongcheng will remain committed to its corporate vision of "Sharing Trusted Quality Chinese Products and Services with the World". It will continuously increase investment in R&D and innovation, promote lean manufacturing and intelligent application, and strive to enhance product competitiveness and create outstanding value for users. At the same time, the company will further deepen its market layout, actively expand its international business, and cooperate with outstanding enterprises in Asian countries. While endeavoring to build Dongcheng into a global leader in the power tool industry, it will also contribute to the internationalization of Asian brands and the rise of Asian brands.