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The illiterate billionaire behind the chili sauce empire [Copy link] 中文

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Post time 2014-4-22 17:23:49 |Display all floors
This post was edited by lt1322min at 2014-4-22 17:24

Tao Huabi -- maybe you have not heard this name before, but I guess you have already tried her famous chili sauce Laoganma, which is even dubbed as the most delicious Asian hot sauce by some foreign friends.

If you haven't tried yet, you should definitely do so.  It has complexity. It has bite. It’s an outstanding hot sauce.

Tao Huabi is the woman behind this hot sauce and the industry worth billions.

What 's her story from a illiterate nobody to a billionaire?

A five-yuan-worth product to a industy worth 3.6 billion -- the secret behind this.


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Post time 2014-4-22 17:25:00 |Display all floors
This post was edited by lt1322min at 2014-4-22 18:09



Laoganma has grabbed about 90 per cent of China's chilli sauce market. Its products can also be found in the condiment aisles of shops in Europe, the United States, Australia, Japan, South Korea and throughout Southeast Asia.

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Post time 2014-4-22 17:27:03 |Display all floors
This post was edited by lt1322min at 2014-4-22 17:27



Tao stumbled into the chilli sauce business 24 years ago.  She never went to school and her husband died when she was in her thirties.

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Post time 2014-4-22 17:30:05 |Display all floors


She used her savings to open a noodle stand in 1989. The noodles were served with Tao's homemade pepper sauce, and they proved extremely popular. Many customers even began buying extra sauce to take home.

Laoganma, which literally means "old adoptive mother" in Chinese, is Tao's nickname. A young man who she supported through school, Ouyang Zhigang, gave her the name. Tao let the poor student eat for free and often gave him money.

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Post time 2014-4-22 17:32:26 |Display all floors
This post was edited by lt1322min at 2014-4-22 17:44



With business booming, Nanming Industrial and Commercial Bureau officials tried to persuade Tao to give up her restaurant and open a chili sauce factory, but she refused.

Her reasoning was simple: "If I close my store, where will the students eat?"

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Post time 2014-4-22 17:34:19 |Display all floors


"I gradually realized that many people were just coming for the chilli sauce," Tao says.

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Post time 2014-4-22 17:35:50 |Display all floors
This post was edited by lt1322min at 2014-4-22 17:45


In the end even the students she had been taking care of began urging Tao to go in for larger scale production of her sauces. Finally, in August, 1996, Tao relented and borrowed two buildings from the local government to set up her factory.

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