Early Life
Wong Man Li was born in 1965 in Nan'an, Fujian Province, China. He started his career in Hong Kong in 1980, working as a factory worker and earning a modest daily wage. During his early career, he gained experience as a manager in electronics and textile factories.
Rise to Success
In 1992, Wong ventured into the furniture business by investing in a factory in Shenzhen, China. His strategic focus on reclining chairs and sofas, particularly the Cheers brand, led to significant growth. Man Wah Holdings went public in Singapore in 2005 and re-listed in Hong Kong in 2010. Wong's knack for working with foreign partners and a focus on large-scale manufacturing in China were pivotal in his rise. By 2014, his company's revenue had reached over $700 million, propelling him into the ranks of the world's billionaires.
Key Business Strategies
Man Wah Holdings built its success on efficient manufacturing in China and exporting products globally, with a strong presence in North America. The company focused on affordable and functional reclining furniture. Wong shifted production out of China to avoid tariffs. His main factory for products to the U.S. is now in Vietnam and he also brought another one online in Mexico. The expansion included opening franchised retail stores, with a significant number in China. Man Wah ensures quality by testing its recliners rigorously.
Philanthropy
Wong's philanthropic efforts were not immediately available through search. However, he is involved in social responsibility initiatives. He is a co-chairman of The Community Chest of Hong Kong and also the Chairman of Happy Hong Kong Charity Foundation.
