Soi Fong International – The slipper specialists
Macao is home to many world-class resorts that constantly source room amenities and is committed to bringing world-class experiences to all visitors. With growing demand for hotel amenities now in Macao, they are opening new doors to opportunities for local small and medium-sized enterprises (SMEs) suppliers. Soi Fong International Trading Company Ltd. is one such supplier which has done exceptionally well in just a few years.
As Soi Hang Wong witnessed the rapid growth of the travel and tourism industry in Macao, he foresaw great potential in trading and supplying products to hotels. In 2013, Mr Wong founded Soi Fong. In 2015, after the first two years of business, he ultimately discovered the true focus of the company – plush hotel slippers.
The founder of Soi Fong operates the company upon the idea that “great business is based on trust and honesty”. In Mr Wong’s pursuit to provide high quality products with competitive pricing, Soi Fong gained trust from a number of major customers in just a couple of years. “We specialise in what we do. In order to grasp any business opportunity and develop a long-time partnership with any client, we have to be able to understand and anticipate guests’ needs, to offer extended service and go beyond expectations,” Soi Fong’s General Manager Mr Wong told Macao Image.
“Large corporations have a lot of considerations in every aspect of open tender. As a supplier, we always take our clients’ interest into consideration, prioritise our clients’ profit margin and solve problems for our clients without being asked to do so. In this way, we create additional value for our company, and to our products,” he explained.
SME policies boost business
Local policies encourage large-scale companies to source services and products from SMEs. Through business matching sessions and exhibition platforms, potential SMEs can showcase what they have to offer.
Since 2016, all six gaming operators in Macao have adopted measures to help local SMEs by hosting business pairing and purchasing sessions. Their goals are to groom SMEs toward becoming eligible suppliers and cultivate a more sustainable business model in the long-run.
“We actively participate in every business pairing session available,” Mr Wong said. “By understanding the characteristics of different companies, we have now become an eligible supplier.”
He added: “By engaging with purchasing representatives at each pairing session, we can evaluate objectively whether we are capable of handling the order, or whether the procurement terms are doable for us. Once both parties find it feasible, we can continue with detailed discussions, the bidding process, sampling and fulfilling orders.”
According to Mr Wong, this is a “good process for both parties to work out with each other and build trust, and we always keep trying until our clients are completely satisfied with our hotel slippers.”
Soi Fong was granted the opportunity to supply hotel slippers to local hotels and resorts at a gaming group. After a two-year probationary period, they were designated as a long-term supplier with a five-year contract, according to Soi Fong’s founder.
“We make sure our products adhere to the most stringent requirements. Being appointed to be a long-term business partner by a large corporation is a testament to our hard work and the high-quality products we provide,” Mr Wong stated. “This is an international acknowledgement of our standards, because by being a supplier to this gaming group, we have become eligible to serve as future suppliers for any other properties of this gaming group outside of Macao, such as in Singapore and beyond.”
Establishing the brand
For Mr Wong, the growth of his company is a continuous process of learning and discovering. “Within the hotel slipper industry, the information of all costs and techniques are no secret. Therefore, we can compare and control costs from our end to create greater value and profits for our clients,” he noted.
Soi Fong is also partnering with other groups including many large hotels, resorts, and gaming groups, aiming to expand its customer base.
A professional, modern image is what Soi Fong aims to project to its potential clients. Since its establishment, the company has extended its presence online by setting up a highly functional company website and maintaining the most up-to-date information about the company and its products online, in order to promote its services to potential clients.
“Modern business exchanges happen online,” Mr Wong said. “The trend is to go digital, so we will continue to allocate resources toward promoting ourselves online.”
He added: “To us, it is not about selling all types of products, but about being the best at selling different variations of one product. With our expertise in supplying hotel slippers, we believe the future is bright.”