50th China Store Opens in Shanghai
Despite a reversal of fortunes for some Kiwi milk producers, Biopure Health continues to hit its aggressive growth targets in the Chinese marketplace with the official opening of its 50th China store in Shanghai.
New Zealand Consul-General Guergana Guermanoff attended to cut the ribbon and witness the signing of agreements with partners to open two more stores in the city.
Shanghai is hugely significant as China’s most populous and economically important city, with a population of more than 24 million. Opening in Shanghai is an important milestone for the company, placing it in the epicentre of the Chinese economy says Biopure founder Simon Page.
“The total number of New Zealand Milk Bar stores across China has now reached 57 in 13 provinces and we are on track to reach 100 by end of this year. Gaining a foothold in Shanghai is a significant milestone as we continue our aggressive expansion here in China.”
New Zealand Consul-General Guergana Guermanoff told local media covering the opening ceremony that companies like Biopure with a presence in China add value to the NZ-China relationship.
“We rely on companies like New Zealand Milk Bar and their partners to continue to grow the NZ brand right here in the Chinese market … so we very much support the growth of companies like New Zealand Milk Bar here as part of the bi-lateral trade,” said Guermanoff.
Last month Page was invited to speak on a Goldman Sachs Global Investment Research Conference call to discuss the China infant formula market with 30 international and institutional investors.
“From my perspective it shows that there is strong interest in China still, particularly in consumer ready dairy products, despite news of a general economic slowdown,” says Page.
“As China moves to a consumption led economy driven by the rise of the middle class we are extremely confident in the direct to consumer model whether it be bricks and mortar stores, online channels or a combination of the two,” says Page.
Biopure was formed in 2011 and opened the first New Zealand Milk Bar store in China in 2012 when Simon Page and partner Jane Li set out to establish a platform to sell NZ produced milk products in China.