Ashley Dudarenok

China likes to have centres of excellence.

For example, in Guangzhou, we have a town that's a shoe town or another town that focuses on underwear and Yiwu focuses on, you know, small commodities or Christmas decor.

Yes, absolutely.

First, it was really about manufacturing, you know, Christmas decorations, and it was very much focused on the U.S.

market.

And now becoming the real innovator, a company that I personally know of, they produce Christmas ornaments and they produce Christmas balls.

They are able to assemble a Christmas ball in about two seconds.

So think about that.

And their newly developed machines and factory floors ultimately increased their efficiency by about 20%.

So by now, they are not just a supermarket for cheap products.

They are also an innovation center in many, many ways.

Evu's Christmas exports actually grew about 23% year over year between Q1 and Q3.

The industry rapidly diversified into other markets.

For example, Latin America plus 17%, EU plus 45% year over year.

So they started really pushing into new markets and they set up a shop there.

The push is real and you can see it across the board.