Britain signed a free-trade agreement with China in December of last year, and strong bilateral ties were cemented not only between the UK and Chinese governments, but between UK Trade and Investment (UKTI) and the China-Britain Business Council.
The agreement allows British brands to be represented in the Chinese market.
As part of this agreement, the China Luxury Inward Mission was created and various sector specialist consultants were invited to contribute to the mission. One of which was Manchester-born Russell Reihl, a UK business consultant with extensive experience in the retail and trade sectors. His role was to support UK-based businesses in exporting luxury goods to China.
Reihl believes that approximately 70 per cent of the world’s GDP in the near future will come from East Asia and Southeast Asia, with China being the largest contributor.
“China has a plan over the next 10 years to double the size of its 14 first-tier cities (those with populations over 10 million). By 2025, 70 per cent of the Chinese population will be city dwellers and thus luxury goods demand will skyrocket,” he said. With the huge potential for growth that will take root in Asia in the next decade, Reihl has made it a point to explore a number of countries in Southeast Asia. For the people few months, Reihl and his son have made their base in Cambodia.
In his stay so far, Reihl has little but praise for his experience, citing not only the quality of life but the genuinely friendly welcome he has received from Cambodians.
As the CEO of Bayon Galaxy Media, Reihl is supporting UK companies setting up business in Cambodia by offering them a suite of sales, marketing and media consulting across media channels.
Bayon Galaxy’s first project in Cambodia came with its contract to produce Cambodia’s newest in-flight airline magazine – for Cambodia Bayon Airlines. Reihl announced that Bayon Galaxy Media is offering substantial discount to British companies wishing to advertise in the publication.
As an adjunct to his projects in Cambodia and China, Reihl is also mentoring his 22-year-old son, James Reihl, in business. The younger Reihl has worked in hospitality since his mid-teens in some of the world’s top companies, such as the Hilton Hotels group in New Zealand and Japan, is now general manager of the new St. 288 Hotel and Serviced Apartments.
After attending the China mission conference with his father earlier this year, James Reihl knew he was making the right decision to relocate to Cambodia.
“I always wanted to work with my father and learn about business together. This is a great opportunity for me,” James said.
Reihl is pleased that his son wishes to follow in his footsteps.
“It’s nice to pass on a legacy to the next generation. James is bright and full of potential, and will no doubt be successful in whatever business he does.”