Chinese consumers help James Dyson become richest person in UK

(Photo/Qianjiang Evening News)

Chinese women have significantly contributed to James Dyson’s new title – the wealthiest person in the UK. According to Bloomberg, the profits of Dyson Ltd. in Asia accounted for half of its total, and China stands as an important player in this region.

The hair styler Dyson Airwrap, released by the company last year, attracted millions of Chinese women, despite its price tag of 3,690 yuan ($548).

71-year-old Dyson, hailed as the “Steve Jobs of domestic appliances,” invented the vacuum cleaner, G-Force, in the 1980s. The Dual Cyclone technology used was considered the first breakthrough made since the birth of the vacuum cleaner in 1908.

Thanks to this invention, Dyson became a billionaire. According to a Dyson report, the company’s Earnings Before Interest, Taxes, Depreciation and Amortization hit 1.1 billion pounds ($1.42 billion) in 2018, with a sales volume growing 28 percent to 4.4 billion pounds.

Ninety-six percent of Dyson’s sales were made in regions outside of the UK. The company has witnessed a steep rise in sales since it first arrived in China six years ago. Its business expanded over three times in 2014 and 2015 respectively, and sales growth in China stood at 159 percent in 2017.

When the Dyson Airwrap debuted on T-mall, an online shopping site under Chinese e-commerce giant Alibaba, they sold out in just one second. It was also named the best beauty appliance on T-mall last year.

Dyson is confident about the potential of the Chinese market, saying the company would establish more flagship stores in China and get closer to consumers through physical shops.

Statistics indicated that Dyson’s vacuum cleaners were bestsellers in China last year, taking up 61 percent of the market share.