Although not as well-known as Huawei, the products of this Chinese mobile energy storage brand have a great reputation overseas!

"Any good technology can and should be for everyone."

This is what Wang Lei, the founder of EcoFlow, said during an interview.

Adhering to this simple R&D philosophy, EcoFlow, founded single-handedly by this post-85s young entrepreneur, has achieved a staggering $1 billion in global sales in just five years (as of 2022), and has entered more than 100 countries/regions worldwide, serving a cumulative total of over 3 million users globally.

EcoFlow founder Wang Lei

Shenzhen EcoFlow Innovation Technology Co., Ltd. (abbreviated as EcoFlow), founded in 2017, is a national high-tech enterprise focusing on mobile energy storage and clean energy. Many people may not have heard of its name, but this Chinese brand has used its solid strength to knock on the "door" of the international market.

In the "Google x Kantar BrandZ China Globalization Brands 2024" released on June 20, EcoFlow ranked 43rd on the list, marking its third time on the Globalization Top 50.

Data source: "Google x Kantar BrandZ China Globalization Brands 2024"

Earlier (April 9), EcoFlow was also selected for the "2024 Hurun Global Unicorn List" with a company valuation of 14 billion RMB, ranking 536th, showing its strong capabilities.

Data source: "2024 Hurun Global Unicorn List"

Founder’s Perspective: A Bold Leap from DJI to EcoFlow

Like many successful brands, there are many stories worth exploring behind EcoFlow, such as its founder Wang Lei, who was the founder of DJI's battery R&D department.

In 2017, while still working at DJI, Wang Lei had the idea of starting his own business. Without much hesitation, he bet on the booming new energy C-end consumer market. Since then, a leading Chinese brand deeply engaged in mobile energy storage and clean energy was born.

Image source: EcoFlow official website

Financing Support: Capital Backing from Sequoia Capital and Hillhouse Ventures

However, like many fledgling brands, EcoFlow was also weak at that time and encountered a development crisis. Due to its commitment to developing new technologies, the company once fell into a loss-making state.

It was not until 2019 that EcoFlow became popular overseas with its epoch-making efficient fast-charging technology in the "DELTA" series products, not only turning losses into profits but also increasing revenue more than tenfold.

On June 10, 2021, EcoFlow completed its Series B financing, led by Sequoia Capital China Fund, with Hillhouse Ventures and CICC as co-investors, raising over $100 million.

By now, as of mid-May 2024, EcoFlow has established more than 800 retail channels in Europe and has cooperated with Costco, Walmart and many other large chain supermarkets. In China, it has reached cooperation with outdoor sports retailers such as Decathlon and Sanfu, with product coverage spanning many countries and regions at home and abroad.

Source: Forbes China

Overseas Layout: Diversified Channel Strategy from Costco to TikTok

In addition to building offline channels in multiple countries, EcoFlow has also established an online presence, with TikTok being one of its key overseas social media platforms. On TikTok, EcoFlow has set up multiple accounts to gain exposure and expand brand awareness.

Currently, its main TikTok account has 43,500 followers and 141,700 likes/saves.

Screenshots of multiple EcoFlow TikTok accounts

During its operation on TikTok, EcoFlow also cooperated with the TikTok team.

In June 2022, EcoFlow's "Outdoor Portable Air Conditioner - Wave" was launched in the US market. To increase the exposure of the new product in the target market and audience, and to enhance overseas consumers' awareness of the new product, EcoFlow chose to cooperate with TikTok for the product promotion.

The advertising format used for the promotion was non-Spark Ads, combined with age and interest-targeted audience packs, integrating multiple creatives, and used together with Top Feed in-feed ads.

During the promotion, EcoFlow also used TikTok's Lucky Bag interactive plugin for the first time. This feature made targeted promotion more interesting, greatly increasing users' willingness to click on ads and interact with the brand, and deepening users' impression of the brand.

In the end, this promotion achieved impressive results: the click-through rate of in-feed ads was 275% higher than the R&F benchmark; the 6-second video ad completion rate was 52.28% higher than the R&F benchmark.

Image source: TikTok for business

The development process of EcoFlow not only demonstrates a company's determination to stand out in the international market, but also epitomizes the continuous efforts of Chinese brands in the wave of globalization.

In the future, it is believed that more Chinese brands will gain reputation and market share overseas, forging their own global path.