The new infant formula has twice omega-3 more compared to its competitors. Chief executive Andrew Cohen told the AFR that the move was made to boost its company earnings and rebuild the business. It is also to win back the trust of Bellamy’s investors after undergoing difficult years that almost led to its collapse.
The infant formula maker is targeting to hit A$500 million in revenue by 2021 by rolling out with news products such as pumpkin baby rice, exotic fruits range of pouches and having a new packaging. Bellamy’s plan to have the new baby formula once all the old formula are sold. The Australian company will formally launch it Chinese New Year when supermarkets had fully stocked the product.
The company will report its first half results on 27 February.