Baby products turn out to be a lucrative venture for firm's founder who plans further expansion once economy recovers
Nobody can deny that Hong Kong is full of opportunities for entrepreneurs. If you have a sharp mind for marketing and a strong disposition, success can be achieved, especially when the right opportunity presents itself at the right time.
Eugene Yau Kam, the founder and chief executive of Eugene Group, which has interests in the publication, retail and exhibition sectors, targeted the niche market of parents and their babies from the outset.
Mr Yau, who trained professionally as a graphic designer, opened his own printing company in 1983 in Hong Kong but worked mainly with companies across the border and commuted frequently between Hong Kong and the mainland. Making the most of the ample business opportunities that emerged from China's open-door policy to attract foreign investment in the 1980s, he earned his fortune in the late '80s, which provided him with sufficient financial backing to expand his business.
1988 was a pivotal year for Mr Yau, who changed the focus of his business to concentrate on the Hong Kong market and created his first parenting magazine, Ours mama and baby, which provided parents and parents-to-be with expert views and information on how to nurse babies and raise children.
'Other than our own editorial work, I also adapted some stories and photos to suit the local market from leading baby magazines in Japan and Taiwan,' he said. 'At that time there was no similar magazine in the market, which helped [us] broaden the readership. Later due to greater demand from advertisers and readers, we split the magazine into four publications: Ours mama and baby, Parents, Pre-school and Pregnancy in 1992, 2001 and 2002 to address the specific parenting needs of readers at different stages.'