In February 2024, HSBC, the largest bank in Europe, declared its intention to sell its Armenian subsidiary, signaling the end of its nearly three-decade-long operations in Armenia. This move is notable considering the subsidiary’s robust performance by local standards, boasting $720 million in total assets and customer deposits amounting to approximately $500 million. Furthermore, HSBC […]
BYD, a Chinese automaker, achieved remarkable success in the electric vehicle (EV) market, particularly in its home country, where it emerged as the leading EV brand with record sales exceeding 3.02 million units in 2023. This success was underpinned by a strategic focus on EV technology, enabling BYD to leapfrog competitors who were entrenched in […]
In the contemporary global landscape, the question of whether a country can be fully isolated through sanctions, particularly when it resists disengagement from the global economy, becomes a complex puzzle. The Russian example underscores the challenges of achieving complete isolation. Following the invasion of Ukraine in February 2022, the United States, Canada, the European Union, […]
Founded in 1999 by Josef Zotter, Zotter Schokoladen Manufaktur is an award-winning Austrian manufacturer of artisanal chocolates. Annually, about 600 metric tons in several hundred varieties of chocolates, wrapped in artist-designed packaging, leave its Fair Trade bean-to-bar production in the small city of Riegersburg in the Southeastern part of Austria. After establishing a strong foothold […]
The global media went crazy. the New York Times wrote: “… Scarcity takes the spice out of life,” and “…. Scarcity. What You Need To Know,” CNN reported. Are we running out of oil? Steel? Energy? Not at all. There is a shortage of Sriracha that only worries hot sauce lovers around the world. So, […]
Blue Microphones was founded in 1995 by American session musician Skipper Wise and Latvian recording engineer Mārtiņš Saulespurēns (the company’s name is actually an acronym for Baltic Latvian Universal Electronics). In 2006, Blue expanded from studio microphones into desktop USB consumer and prosumer creator microphones. Under new ownership and leadership in 2009 it grew swiftly and was ultimately […]
Founded in 1932, Danish toymaker Lego has managed to expand its business to more than 130 countries worldwide. Among those, China seems to be a particularly fertile ground for the company. Although China only represented 1% of global sales until recently, Lego is penetrating the market rapidly, believing that the future there will be bright. […]
Atlanta-based U.S. fast-food chain Chick-Fil-A currently offers food at 2,700 restaurants in nearly every U.S. state, as well as a few select stores in Canada and Puerto Rico. Now the company is looking to grab a bigger bite of the global market. Chick-Fil-A has had failed attempts in international markets. From 1996 to 2001, Chick-Fil-A […]
What do Apple, BASF and McDonald’s have in common? Apparently nothing. They are three companies from three fundamentally different industries, each with different business models, and yet they have something in common. They all have a global presence and engage in global arbitrage. And now they are all suffering from an area that has been […]
In 2009, Hjörtur Smárason walked into a McDonald’s restaurant in Iceland and ordered what turned out to be the last hamburger and fries ever served in the country. The global fast food giant that maintains almost 40,000 restaurants in more than 100 countries had failed and decided to leave the island state in the middle […]
Caterpillar, a leading American manufacturer of construction and mining equipment, has been in China since the 1980s when it launched technology transfer agreements with Chinese manufacturers. Later, it opened manufacturing facilities, distribution centers, and corporate offices in more than a dozen cities around the country, employing a local workforce of about 20,000. One would think […]
In 2009, American toy company Mattel opened a gigantic, 36,000 square-foot “House of Barbie” in Shanghai, China. The company had invested over $30 million in the House of Barbie in celebration of the American iconic doll’s 50th anniversary. The six-story building housed the world’s largest collection of Barbie dolls, and also featured a fashion runway, a […]