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… brand told 36Kr that expansion in China will focus on finding trustworthy partners.
Birkenstock’s 60% gross margin matches Dior and Louis Vuitton. A 2.2% drop last quarter, attributed to overexpansion, shook stock prices. Reichert reassured investors, emphasizing that profitability per shoe matters more than distribution methods.
Confidently, he pointed to diversification. While its bestsellers remain open toe sandals, closed toe styles grew by 30%, and high-priced models outpaced lower-priced ones twofold.
Birkenstock is even making strides in athletic and golf footwear, unveiling detachable footbed clogs for the Paris Olympics to help athletes recover post-activity. Some products have even made their way into high-end golf shops. Birkenstock shoes or insoles mitigate the discomfort of prolonged standing and walking.
To support its growth, Birkenstock opened a new factory in Germany this year. Most products remain handcrafted—a hallmark of luxury.
European luxury giants have historically thrived on Asia’s middle class, often embracing regional manufacturing, riding the “Made in America” and “Made in China” policies. Will Birkenstock follow suit in the future? Reichert denies this possibility, but the company’s chief administration officer Sean Harris is pragmatic, saying that, if managed well, anything is possible.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3045779107531653">article</a> was written by He Zhexin for 36Kr.

How LVMH turned “ugly” Birkenstock into a luxury brand

Fashion

Creative

Retail

Dongfeng Honda has opened its first production plant dedicated to new energy vehicle (NEV) production in Wuhan, now operational and accessible for public tours since early October. This facility marks a significant milestone in Honda’s EV roadmap, boasting an annual production capacity of 120,000 units. Its initial output includes the Lingxi L and Ye S7 models.
Designed with advanced automation and intelligent systems, the factory is said to feature over 400 robots and 260 automated guided vehicles, alongside state-of-the-art automated quality inspection technologies. During a site visit, 36Kr observed these innovations in action, highlighting the factory’s integration of eight general systems and five workshop-specific digital systems. Together, they enable a seamless, fully traceable digital workflow, from logistics to production, enhanced by intelligent scheduling tools.
One standout innovation is the water-based dual-color coating process applied to the Lingxi L. This method delivers a thicker coating with superior resistance to scratches and corrosion. Quality control is reinforced by a multifunctional detection system that is claimed to ensure a 100% paint defect detection rate, eliminating substandard products. In chassis production, a blend of visual inspections and advanced detection algorithms has significantly reduced false and missed defect identifications, targeting zero-defect outputs.
Looking to the future, Gou Tiansheng, Dongfeng Honda’s deputy general manager, announced plans to launch two new pure electric models, the Ye S7 and Ye GT, in 2025. Updates and reintroductions of popular models like the CR-V, Civic, Inspire, and Elysion are also in the pipeline. By 2027, Honda aims to offer ten pure EV models in China, building on its e:N series launched in 2022 and the new Ye series debuting in 2024. By 2035, the company envisions pure EVs comprising 100% of its sales portfolio.
The Ye S7, produced at this new facility, leverages Honda's innovative W architecture. This platform integrates a high-power "three-in-one" drive motor and an aluminum die-cast casing that houses a high-density battery with a split-isolated cooling system. Offering rear-wheel single-motor and all-wheel dual-motor drive configurations, it provides users with customizable driving modes tailored to their preferences.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3074151803220873">article</a> was written by Li Qin for 36Kr.

Honda ramps up EV ambitions with state-of-the-art Wuhan plant

Northeast Asia

Honda

Electric Vehicles

Mobility

… for pets, has closed a seed funding round, securing an eight-figure RMB sum. The round was led by Light Cone’s frontier technology fund and Lingyi Capital, with additional investment from Kylinhall Partners. The proceeds will be used to fund R&amp;D, team expansion, and market outreach. —<a href="https://36kr.com/p/3074076365419392">36Kr</a></li>
<li aria-level="1">SAIC Anji Logistics, the automotive logistics arm of SAIC Motor, has secured RMB 2 billion (USD 280 million) from state-affiliated investors Shanghai International Port (Group) and COSCO Shipping Holdings. Each investor acquired a 10% stake, while SAIC Motor retained 80% ownership. —<a href="https://www.dealstreetasia.com/stories/saic-motors-funding-422993">DealStreetAsia</a></li>
<li aria-level="1">GCL Perovskite, a producer of perovskite solar cells, has raised RMB 500 million (USD 70 million) in a Series C1 round of financing led by Goldstone Investment and joined by Kunshan Hi-tech Group, HongShan, and Hanyang Capital. The investment will facilitate the establishment of a gigawatt-class solar cell factory and develop tandem perovskite solar modules. —<a href="https://www.dealstreetasia.com/stories/chinas-gcl-perovskite-raises-69m-series-c1-round-led-by-goldstone-investment-422876">DealStreetAsia</a></li>
</ul>
whereRelatedArticle
<h3>Carro, CarDekho, Longbridge, and more made recent headlines:</h3>
<ul>
<li aria-level="1">Carro, Asia Pacific’s largest online used car marketplace, secured an investment from Woori Venture Partners, the venture capital arm of Woori Financial Holdings. The exact amount remains undisclosed.</li>
<li aria-level="1">CarDekho SEA, the Southeast Asia arm of India’s CarDekho Group, raised USD 60 million in its first external funding round. The round, co-led by Navis Capital Partners and Dragon Fund, has brought CarDekho SEA’s total funding to over USD 100 million.</li>
<li aria-level="1">Longbridge Group, a fintech and securities firm based in Singapore, raised over USD 100 million to fuel its international expansion.</li>
</ul>
If there are any news or updates you'd like us to feature, get in touch with us at: <a href="mailto:hello@kr-asia.com">hello@kr-asia.com</a>.
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Deals in brief: Fleet Space raises Series D funding to expand platform reach, Citigroup backs Astra Tech with USD 500 million, latest China deals, and more

Venture Capital

Private Equity

Investment

Merger &amp; Acquisition

Malaysia

India

Oceania

… locally.
Mexico views foreign investment as a means to enhance employment and economic growth, presenting a more sustainable alternative to the gray market goods and IP risks associated with businesses like locally based Yiwu International Trade City.
whereRelatedArticle
As Mexico’s e-commerce market expands—expected to reach USD 28 billion in 2024, a 22% year-on-year increase—the demand for traditional physical outlets has declined. Simultaneously, the government is making significant investments in infrastructure. Mexico’s transport and communications secretariat plans to allocate over USD 22 billion this year to develop ports, railways, and highways to meet logistical demands.
Despite ongoing challenges in infrastructure and public safety, Mexico’s trajectory emphasizes government-led initiatives, foreign investment, and domestic capacity building. The decline of businesses like the Yiwu International Trade City was likely inevitable—the recent raid simply accelerated the outcome.
The timing of the raid coincides with Trump’s recent announcement on his social media platform, proposing a <a href="https://www.economist.com/the-americas/2024/11/07/donald-trump-is-poised-to-smash-mexico-with-tariffs">25% tariff</a> on all imports from Mexico and Canada. Such a move would undermine the tariff-free benefits of the United States-Mexico-Canada Agreement (USMCA) and could destabilize Mexico’s domestic industries.
At this economic juncture, Mexico’s decisive crackdown reflects a broader strategy to prioritize local industries and strengthen trade policies. It underscores the growing importance of regulatory compliance for businesses operating internationally—no market will tolerate gray areas indefinitely.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3071515498967936">article</a> was written by Hu Yiting for 36Kr.

Mexico cracks down on Chinese gray market as trade policies tighten

E-Commerce

LATAM

… ensuring access to fresh promotional materials. Collaborations with Xiaohongshu influencers, particularly those focused on parenting and education, aim to position Disney’s family-friendly content directly with young mothers.
Localization efforts extend beyond marketing to influence content creation. For instance, Japanese audiences favor foreign films dubbed by local voice actors, while Chinese viewers largely reject dubbed versions. As a result, Disney has gradually phased out Chinese dubbing for its films. Additionally, feedback on recent Marvel productions—ranging from critiques of overused multiverse narratives to convoluted quantum mechanics—has been relayed back to Disney’s headquarters. “Rest assured,” Choi said with a laugh, “the next few Marvel films are set on Earth. Even if aliens appear, they are coming to us.”
The surprise success of Alien: Romulus in China highlights the untapped potential of niche genres. When Disney acquired 20th Century Fox, skeptics feared that its mature properties might be sanitized to fit Disney’s family-friendly image. However, the company has managed to preserve Fox’s distinct identity while seamlessly integrating it into its broader portfolio.
Audiences now wonder if Disney can expand its creative horizons. If the company can produce films like Alien: Romulus, why continue remaking classics like Snow White and The Little Mermaid? Choi defended Disney’s commitment to its core values: “When you watch a Disney film, you can always expect joy, harmony, and an uplifting spirit. Even when audiences know there’s going to be a happy ending, we’re confident the journey will still move them.”
Disney is also experimenting with reimagining classic villains like Cruella de Vil and Scar from The Lion King. “Even when focusing on a villain’s story, the tone will remain family-friendly, and there will always be a happy ending,” Choi said. “Parents never have to worry about inappropriate content in a Disney film.”
While staying true to its promise of “telling great stories,” Disney is making subtle adjustments to reflect contemporary values. For example, Snow White is being reimagined as a courageous and strong-willed heroine, while Toy Story 5 will explore themes of technology addiction through the lens of childhood nostalgia.
“Our goal is to tell good stories that ensure audiences at every stage of life can resonate with Disney’,” Choi said.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3046232742185607">article</a> was written by Wang Yuchan for 36Kr.

Disney leans on localization to win over China and APAC audiences

Entertainment

Video

Content

… China. "We need to change the dependency rate, because it is too high," an official from Japan's industry ministry told Nikkei Asia. But "companies cannot go in [and invest in projects outside of China] because the cost is high and the demand is not increasing."
Even ongoing projects face an uncertain future.
"We need support from the government and we need understanding from the customers [about higher prices] and our effort to reduce costs," said Tatsuya Murakami, deputy manager of Sojitz's fluorine business development section. "We are trying to make it work through all these factors."
This article first appeared on <a tabindex="0" href="https://asia.nikkei.com/Business/Technology/Tech-Asia/Japan-South-Korea-struggle-to-reduce-reliance-on-China-tech-materials" rel="noopener noreferrer" data-token-index="1">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing <a tabindex="0" href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/" rel="noopener noreferrer" data-token-index="3">partnership with Nikkei</a>.

Japan, South Korea struggle to reduce reliance on China tech materials

Deep Tech

Semiconductors

Korea

… alternative approaches.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3073398098015105">article</a> was written by Yong Yi for 36Kr.

As chatbots fall short, ByteDance bets on Dreamina as the “TikTok of the AI era”

Bytedance

China Tech

Artificial intelligence

… published by 36Kr. This <a href="https://36kr.com/p/3053103540539783">article</a> was written by Zhou Xinyu for 36Kr.

Is Luma AI’s Dream Machine a worthy contender to OpenAI’s Sora?

… prioritizing passenger and cargo space to ensure practicality and comfort during family outings. Xiaomi’s first vehicle, the SU7, faced criticism for its spatial constraints due to its elongated front and fastback design. The rear cabin had limited headroom—barely a fist’s width—and standard legroom of 825 mm, shortcomings that left the mid-to-large sedan falling short for family users. Sharing the same platform, the YU7 may encounter similar limitations.
That said, Xiaomi’s experience with the SU7 provides an opportunity to refine the YU7. However, competitors have already made significant progress in addressing space concerns, especially in second-row seating.
For instance, Tesla’s Model Y has enhanced rear seat comfort in previous updates, while the recently launched midsize SUV <a href="https://kr-asia.com/nio-launches-the-onvo-l60-suv-throwing-down-gauntlet-to-teslas-model-y">Onvo L60</a>, though smaller than the YU7, boasts 860 mm of second-row legroom. Nio’s Onvo is also set to release a larger five-seat SUV next year that will directly compete with the YU7.
In terms of space and comfort, Xiaomi has yet to establish a clear advantage. For family users, these factors often outweigh other considerations. If the YU7 relies solely on aesthetics and brand recognition, it risks cannibalizing the SU7’s customer base instead of broadening Xiaomi’s market reach.
The YU7 will likely secure orders from Xiaomi’s loyal user base, but achieving widespread success will require more than brand loyalty. It must appeal to practical needs and deliver innovations that resonate with a broader audience. To stand out, Xiaomi may need to address interior space optimization, competitive pricing, or introduce novel features that fill unmet consumer needs. Leveraging Xiaomi’s ecosystem to create a distinctive user experience could also provide an edge.
Ultimately, Xiaomi must craft a compelling product tailored to family users, a challenge that aligns with the innovative and enterprising vision of Lei Jun, Xiaomi’s founder. By extension, the success of the YU7 will hinge on Xiaomi’s ability to translate these strengths into concrete market advantages.
<figure id="attachment_31224" aria-describedby="caption-attachment-31224" style="width: 1000px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="wp-image-31224 size-full" src="https://console.kr-asia.com/wp-content/uploads/2018/07/Lei-Jun-M-Size-7.jpg" alt="Photo of Lei Jun, chairman and CEO of Xiaomi." width="1000" height="665" srcset="https://console.kr-asia.com/wp-content/uploads/2018/07/Lei-Jun-M-Size-7.jpg 1000w, https://console.kr-asia.com/wp-content/uploads/2018/07/Lei-Jun-M-Size-7-300x200.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2018/07/Lei-Jun-M-Size-7-768x511.jpg 768w" sizes="(max-width: 1000px) 100vw, 1000px" /><figcaption id="caption-attachment-31224" class="wp-caption-text">Founder Lei Jun has been a <a href="https://kr-asia.com/xiaomi-ceo-lei-jun-expresses-unwavering-confidence-in-victory-at-su7-launch">key proponent</a> of Xiaomi’s move into automaking. Photo of Lei Jun, from KrASIA’s archive.</figcaption></figure>
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3072551330476928">article</a> was written by Xu Caiyu for 36Kr.

Xiaomi’s new YU7: Can it stand up to Tesla’s Model Y?

Xiaomi