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| Young company founder eyes global possibilities |
| http://www.mascapital.com
2004-9-13-15:50 |
Young company founder eyes global possibilities
Cameras from Aimex sold in 40 countries
By TOM RAITHEL
Courier staff writer
HENDERSON, Ky. -Aaron Tsai is aiming high as president and founder of Aimex Camera Inc.
The 23-year-old Henderson County High School graduate has seen the sales of his international camera company grow from $1.3 million in 1990 to $3 million in 1992.
But he's far from satisfied. He wants a bigger product line. He wants a bigger market.
He wants to see his company double its sales in each of the next five years.
He wants his company to be up there with Eastman Kodak.
"Our dream is to become a leader in the photographic industry," Tsai said in an interview at his corporation's headquarters in Henderson.
Aimex is an international camera company that specializes in inexpensive, quality cameras, which it sells primarily in overseas markets. The cameras are ordered from factories in Taiwan and Thailand owned by Tsai's family. They are distributed to dealers in 40 countries, including Russia, China and Brazil.
Tsai got the idea of going into the photographic equipment business while attending business school in New York in 1990.
Born in Taiwan, Tsai moved with his family to Terre Haute, Ind., when he was 13. Two years later his family moved to Evansville, where his father, David, owned restaurants.
Tsai attended Harrison High School in Evansville and was elected president of the junior class. Before he could serve in that office, however, his family moved to Henderson, where Tsai graduated in 1988.
While studying at New York University's Stern School of Business, Tsai dreamed about starting his own business. One day, he received a camera in the mail which his uncle,James Tsai, was making in a factory in Taiwan. Tsai went to some New York store owners to see if they were interested in the product, then launched his first camera company.
His first business didn't fare well. "I had a tough time in New York because there is very tough competition and the store owners are very difficult to deal with," Tsai recalled.
He decided to turn away from the American market - at least for a while.
"Every camera manufacturer wants to take advantage of the American market because of its size. But the competition's fierce, and the profit margin is not high," Tsai explained.
Tsai returned to Henderson and launched Aimex in November of 1992.
Working an average of 100 hours a week during his first year, Tsai developed Aimex into the million-dollar business it is today.
The Aimex product line consists of several 35mm cameras, which range from a $10 flashless model to a $200 minizoom lens model.
The line also includes a new yellow-bodied children's model which Aimex will soon begin distributing through Toys R Us outlets.
Tsai plans to add single-shot, or disposable, cameras to his product line soon and sell them to other American retail outlets, such as Kmart and Wal-Mart. He plans to expand into film, tripod, videocasette and battery markets.
A great part of Aimex's success will depend on its overseas marketing strategy.
Tsai plans to expand to include Korea and Japan and to hit particularly hard the two largest potential markets in the world - Russia and China.
His company plans to open sales offices in Moscow and Hong Kong this year and offices in Germany, Canada, China and Taiwan next year.
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