Allan Wong: Toy Story
Talk to ALLAN WONG, chairman of Hong Kong-based VTech Holdings Ltd., and you wouldn't know there was an Asian financial crisis. ''We're not affected,'' shrugs this low-key electrical engineer. In a year when most Asian corporations have suffered huge losses, profits at VTech are up roughly 50%. That has helped shares of VTech--the world's leading manufacturer of both electronic learning toys and high-frequency cordless phones--soar.
The key to Wong's success? The 47-year old executive, who sells mostly to the U.S. and Europe, has a research and development machine that churns out high-quality products at competitive prices. To create his educational toys and phones, he hires ''the best people globally'' from Silicon Valley to London to Hong Kong. The result: innovative toys such as Super Animated, which helps children improve their vocabulary and math skills.
From distribution to customer feedback, Wong leaves very little to chance. VTech has its own extensive sales and marketing network, which allows it to tap into a database of 40 million to 50 million users for feedback on its newest products.
Soft-spoken Wong prefers to keep a low profile, even in good times like these. ''I'm not the flamboyant type,'' he says. But he is resourceful. When his two kids were younger, they tested his toys. Now teenagers, they test his phones. Obviously, Wong is using every asset to stay ahead.
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