GLOBAL TIMES – Jan 10 – An increasing number of companies devoted to romance counseling are springing up in recent years in China, rapidly growing into its own strong market force. Shu Xin is the founder of Weiqing, a marriage counseling agency with 17 years of history. Weiqing attempted an IPO in 2016, but had to retreat due to its failure to disclose its confidential client list. The company generated ~20M yuan ($3M) in revenue in 2016 with 100% annual growth rate for three consecutive years. Its biggest anonymous client, a woman, spent 1.4M yuan that year to get rid of a woman that almost ripped apart her family. Shu dismissed widespread rumors about how his business "threatens" mistresses to leave disloyal husbands. "The first step is to befriend the mistress", he says. "After we gain her trust, we will encourage her to think in the shoes of the poor wife and guide her to imagine the pain of betrayal herself." 90% of extramarital affairs his company has dealt with are caused by an unsatisfying sex life between husband and wife. Chris Wu is the founder of Xiaolu, an online marriage counseling platform. The company generated ~ 200M yuan in revenue in 2017 alone. Wu believes his company is only seeing a small chunk of China's 2B yuan "love counseling market," which he expects will grow to 10B yuan within the next five years.
by Feng Suwen
See full article at Global Times
