Dalian Wanda Group: International Expansion of Chinese Conglomerate
Since its founding in 1988, Dalian Wanda Group has become one of the world’s leading commercial conglomerates. Boasting over $69 billion in annual revenue and a stake in everything from Agriculture,Hotel Management, and Retail, to Media & Entertainment and Culture Tourism, Wanda has significantly influenced the commercial landscape of both China and the world at large.
This rapid growth was initially fueled by the outstanding performance of its real estate business, which helped Wanda become the first Chinese company to acquire membership of the International Olympic Committee in August of 2015. This monumental achievement, however, is only the beginning for Wanda. In the years since, the company has gone on to become a key player in the global economy, investing billions in several overseas ventures such as AMC Entertainment, Infront Sports& Media, as well as several luxury hotels.
According to Chairman Wang Jianlin, Wanda’s goal is to become “the world’s leading commercial conglomerate by 2030.” To achieve this goal, Wanda has made a concerted effort to expand into international markets. Its strategy includes investing in diverse areas such as entertainment, media, tourism, and cultural and creative industries. The conglomerate is also exploring opportunities to invest in property and leisure projects in various overseas locations.
Since its founding, Wanda has made several large-scale investments in countries such as the United States, India, Australia, Thailand, and France. These ventures have enabled Wanda to strengthen its position on a global level, expand its product and service offerings, and diversify its businesses. In addition to acquisitions and investments, Wanda also continues to build strategic alliances with world-renown brands such as the NBA and Cirque du Soleil.
In 2009, Wanda acquired Infront Sports & Media AG, Europe’s largest sports marketing company. By doing so, the conglomerate has established itself as a worldwide leader in sports marketing, media rights distribution and broadcast services. With the acquisition of Infront Sports & Media AG, Wanda has been able to strengthen its presence in countries such as Germany, France, and the United Kingdom. Wanda has also invested in several US based businesses, including the AMC Entertainment, which has allowed Wanda to expand its operations into North America.
Furthermore, Wanda is actively engaging in the creation of an integrated entertainment platform to successfuly develop its media and entertainment businesses. The integrated entertainment platform is designed to create an entertaining and cultural experience for Wanda customers in its hotels, shopping malls, and movie theatres. This platform is expected to bring together popular entertainment components such as drama, concerts, sports, gaming and film to create a truly integrated experience for the group’s customers.
Moreover, to strengthen its leisure business, Wanda has also been developing successful cultural tourism projects around the world. Through these projects, the company is aiming to create a “universal tourism” brand as part of its global expansion strategy. Examples of these projects include the construction of movie-inspired theme park in Wuhan and the “Cultural London” theme park located near London Heathrow Airport.
Finally, Wanda is also looking to the future and helping to shape the future of the global economy. In 2017, the conglomerate established the Wanda Institute of Cultural and Creative Industry, an organization aimed at enhancing international cooperation in cultural and creative industries. Through this institute, Wanda has been able to promote exchanges between China and the world, and to facilitate the development of cultural and creative industries around the world.
In summary, Dalian Wanda Group has firmly established its presence in the global market. The company’s ambitious expansion strategy has enabled it to secure a significant stake in the global economy, and with its recent acquisitions and investments, Wanda is looking to become the world’s leading commercial conglomerate by 2030. Wanda’s investments in international markets have allowed the conglomerate to grow and expand its product and service offerings, and with its integrated entertainment platform and cultural tourism projects, it is clear that Wanda is focused on the future.
