From its founding in 1993, offering the first inbound tours for European tourists to Vietnam with 3 employees based in Saigon, the Group has expanded to include market leading positions primarily in service-oriented businesses across much of Asia. Today the Group employs 4,500 staff including 400 expatriates.
AppleTree has expanded by applying a simple and focused entrepreneurial philosophy:
– In a developing economy most ideas are valid but the execution is key
– Focus on business models that have already proven successful in more developed economies
– Concentrate on businesses in which the Group’s added value can be priced-in
– Only pursue opportunities in which the Group can obtain either long-term exclusivity or at least enough time in market to establish a lead and/or barriers to entry
– Prefer Joint-Ventures and build long-term relationships with local partners