A leading cooking oil brand, Fortune initiated several marketing campaigns to drive sales and reinforce the brand, as overcapacity and weakened demand pressured pricing.
In a marketing campaign called “Golden Origin 321,” each number symbolized a brand strength: “3” ensured that the oil came from one of three Chinese corn belts; “2” represented two strategic partnerships, with China’s Olympic Committee and its Aerospace Development Foundation; and “1” signified COFCO, the corporate parent, as a singularly trustworthy name.
Fortune also launched an online campaign called “Find your happy moment,” in which consumers were asked to submit uplifting, happy stories as a way to celebrate the founding of the Peoples Republic of China and associate the brand with positive attributes of the “Chinese Dream.”
Revenue of China Foods Ltd. declined slightly in the first half of 2014, to $1.8 billion. For the full year 2013, revenue declined 15 percent to $3.4 billion. The Fortune brand is ultimately owned by COFCO (China National Cereals, Oil and Foodstuffs Import and Export Corporation), an SOE (State Owned Enterprise).