Evergrande Group, a Chinese private conglomerate involved in property development, agriculture and sports, launched an infant formula on Monday [27 October 2014] following its acquisition of New Zealand dairy producer Cowala Dairy Ltd. last month. The Guangzhou-based group also plans to build a dairy manufacturing base in China to tap the lucrative market. Chinese consumers have preferred to buy foreign brands following a series of tainted milk scandals in recent years…Full Article: Xinhua Oct 2014

Key Point

  • The Evergrande Group manages Guangzhou Evergrandetaobao Football Club and plans on using three players to promote the newly acquired Cowala infant formula product line.

ChinaAg Comments

  • In September 2014, it was announced that Alibaba (via Taobao) may join forces with Evergrande Group to develop agricultural e-commerce in northeastern China.
  • A real estate firm founded in 1997 and headquartered in Guangzhou, Evergrande Group also markets organic rice and edible oils within China.

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