As traditional manufacturing giants increasingly embrace live-streaming commerce, Dong Mingzhu, the helm of Gree Electric, is pushing this online breakthrough strategy to new heights with more aggressive moves.
Heavy Investments: Gree's New Live Commerce Strategy
Gree Electric recently established Zhuhai Gree Digital Technology Co., Ltd. with a registered capital of 50 million yuan, marking its second major investment in live-streaming commerce after creating Gree E-Commerce Co., Ltd. just over a month prior. Both companies feature internet live-streaming services in their business scope, signaling Gree's determined push into digital sales channels.
The new digital technology company is fully owned by Gree Electric, with Zhang Wei serving as legal representative. Notably, Gree E-Commerce Co., Ltd. boasts an even larger 100 million yuan registered capital and counts Dong Mingzhu herself as its legal representative. These back-to-back high-value investments demonstrate Gree's all-in commitment to live-streaming commerce.
This strategic shift comes as more corporate leaders personally engage in live-streaming sales. Dong has developed multiple streaming accounts including "Mingzhu Yutong Selections" and "Gree Dong Mingzhu Store," significantly increasing Gree's online sales proportion through these platforms.
Matrix Approach: Gree's Expansive Live Commerce Network
On Douyin (China's TikTok platform), Gree has built an extensive live-streaming network. The "Gree Dong Mingzhu Store" alone operates numerous regional accounts covering cities across China, from Zhongshan to Luoyang, enabling precise local marketing.
Among these, "Mingzhu Yutong Selections" stands out with 2.48 million followers and recent 30-day sales between 10-25 million yuan. The flagship "Gree Dong Mingzhu Store" account has attracted 439,000 followers with 5-7.5 million yuan in monthly sales. These figures validate Gree's initial success in live commerce.
The Dong Mingzhu Factor: Personal Brand as Growth Engine
All Gree's streaming accounts prominently feature Dong Mingzhu's personal brand. The evolution of "Mingzhu Yutong Selections" from dual-host format to Dong's solo appearances underscores her central role in Gree's digital strategy.
Dong's selling power is well-documented: her 13 live sessions in 2020 generated 47.62 billion yuan—a quarter of Gree's annual revenue. In 2022, just six streams surpassed 22.8 billion yuan, exceeding Gree's Q1 total revenue. These extraordinary results fuel Gree's confidence in live commerce expansion.
Channel Transformation: Gree's Online Breakthrough
"Sales system reform follows era development," Dong has repeatedly stated, highlighting Gree's commitment to digital channels. Despite its strong offline dealer network, Gree historically lagged in e-commerce due to channel conflicts.
The recent e-commerce company formations and live-streaming investments signal Gree's determination to transform its sales architecture. Whether this digital pivot will yield sustained success remains to be seen, but Gree's moves offer valuable lessons for traditional manufacturers navigating digital disruption.