The battle between Wanda and Disney got a new twist as the Chinese company hired Andrew Kam, former managing director of Disneyland Hong Kong. A smart move, says retail analyst Ben Cavender in the China Daily.
China Daily:
The hiring of former Disney executives will help Wanda better learn Disney’s strategy and insights, said Ben Cavender, principal of China Market Research Group.
Wanda opened the first Wanda City project in May in Nanchang, Jiangxi province, and four months later the second opened in Hefei, Anhui province, marking the start of Wanda’s ambitious plan to build 15 such projects across the country by 2020.
Wanda Group said more than 1,700,000 people visited the two projects during the weeklong National Day Holiday, while Shanghai government statistics show the Shanghai International Tourism and Resorts Zone, where Shanghai Disneyland is located.
But Cavender noted that planning and developing a culture business is a complex progress, and if Wanda wants to do it correctly, it is going to have to form a very strong team and long-term strategy rather than hiring a few people and opening parks quickly to get quick profits.
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