Bud APAC introduced BEES in 2021, a B2B e-commerce platform, to engage our customers including wholesalers and retailers in China. Our primary goal at BEES is to prioritize customers and facilitate their success by simplifying their operations and boosting their profitability. Through BEES, we extend our digitalization capability to our customers, unlocking new growth opportunities for all. BEES is transforming the traditional sales model, in which many points of connection (POCs) lacked digital support and faced fierce challenges from the new retail sector. Whether a small to medium-sized retailer or a big wholesaler, the BEES platform provides the tools, data, and insights to help users’ businesses thrive. Inside the BEES app, users can browse for products, place orders, earn rewards, arrange deliveries, check on marketing promotions and access business insights all in one place.  In China, we have connected with over 30 million consumers through various digital media channels. Bud APAC accelerated the expansion of BEES to around 260 cities, accounting for around 70% of our China revenue in December 2023. 

As part of our Wholesaler Successor/Manager Development Program, we conducted training sessions and provided comprehensive after-class coaching. The training encompassed crucial areas such as project management, finance, and personnel training. By imparting these essential skills, we effectively supported wholesalers in cultivating the capabilities of the next generation to facilitate seamless transition plan and assume leadership roles within their family businesses.  100 individuals trained in successor program, completing one cohort and commencing another. Over 80% successfully took over their wholesaler businesses. 

This initiative aims to empower entrepreneurs tackling sustainability challenges within our communities. The 100+ innovation lab fosters an ecosystem of innovation and sustainability, generating value throughout our value chain and supporting our sustainability objectives. In 2023, alongside our routine recruiting, scouting, interviews and pilot initiatives, we expanded our efforts to engage and empower entrepreneurs and innovators by organizing webinars, industry workshops, investor roundtables and pre-pitch training sessions.  In 2023, we have engaged 117 ventures, and signed contracts with 5 startups, indicating a commitment to scaling up promising programs and initiatives. 

Vegatex utilizes its patented technology to upcycle food waste and by-products, including spent grain and fruit waste. Their innovative process extracts food-grade protein powder and transforms the remaining materials into vegan leather, suitable for various industries such as textiles, leather, and chemicals.
Vegatex achieved a successful collaboration with the Bud team, resulting in the development of BarleySkin. This environmentally friendly leather alternative minimizes the environmental impact by replacing fossil-derived materials with Bud China’s supplied spent grain (BSG) through Vegatex’s patented process. In 2023, in collaboration with Bud China’s local brand, Sedrin, BarleySkin leather fashion outfits were showcased at the 2023 London Fashion Week, highlighting the limitless possibilities of this eco-friendly fashion material. Over the past two years, the partnership between Vegatex and Bud China has continued to foster innovation.  In 2023, Vegatex incorporated 10% BSG and 26% biobased materials into a cell phone case for a global electronics brand. Moreover, Vegatex has been developing BarleySkin as a material for car interiors and is currently undergoing various safety tests in preparation for commercialization. 

Carbonebook offers comprehensive and professional digital transformation solutions to help customers achieve net zero. Through their digital system, Carbonebook assisted Bud China in collecting carbon emissions data from upstream suppliers and seamlessly integrating carbon management systems into their daily operations, thereby accelerating the reduction of their carbon emissions.
With Bud China’s leadership and Carbonebook’s expertise, this collaborative effort is expected to help Bud China achieve its climate goals. In 2024, Carbonebook will scale to APAC with the support from Bud APAC team.  Following a successful pilot program with three suppliers in 2022, Bud China expanded its partnership with Carbonebook in 2023 to include 37 suppliers and 86 sites, encompassing approximately 40% of the carbon emissions footprint across Bud China’s entire value chain.