Australian pharmaceutical company Blackmores will attempt to tap into the burgeoning herbal medicine market in China and throughout Asia via its new Australian-based business. The vitamin maker on Friday [6 May 2016] announced it had acquired leading local Chinese medicine manufacturer and distributor Global Therapeutics, a group that currently commands an estimated 80 percent share of the Chinese herbal remedy market in Australia, for 17 million U.S. dollars. Global Therapeutics, based out of the coastal city of Byron Bay, has two main brands Fusion and Oriental Botanicals which are currently only sold in Australia…Full Article: ECNS.cn May 2016
- Asian markets account for approximately 50% of Blackmores’ total sales.
- Blackmores will attempt to export Fusion and Oriental Botanicals (no re-branding planned) to China.
- In January 2016, the Blackmores and Bega Cheese JV launched three infant formula products for sale in Australia (store shelves) and China (e-commerce). Approximately 20,000 tins of infant formula from the Australian dairy JV were available for sale on Tmall.com, an Alibaba controlled e-commerce website. Customers can reportedly only purchase two tins per day and up to four total per week.
- In October 2015, Australia’s Blackmores (consumer health products) and Bega Cheese (dairy products) signed a joint-venture (JV) to produce and market infant formula products to Australia and Asia.
- In January 2015, Blackmores began selling its products on the online store Tmall.hk.
- In 2012, Blackmores registered some of its products for sale in China (pre-market registration).
- Founded in 1999 and headquartered in Byron Bay, New South Wales (eastern Australia), Global Therapeutics manufactures and distributes a wide variety of Chinese medicine products.
- Founded in 1930 and headquartered in New South Wales, Australia, Blackmores Limited (ASX:BKL) is a producers and distributes consumer healthcare products including infant formula, superfoods, and fish oil. Blackmores has a regional office in Shanghai.