Bubs Australia has sealed another three deals this week, formalising its key China and domestic channel strategic partnerships.
The infant formula maker, which earlier this week entered a supply agreement with dairy giant Fonterra, yesterday signed a joint venture with Beingmate, one of the largest Chinese owned enterprises in the infant nutrition industry.
The deal will see Beingmate distribute and promote Bubs’ goat and organic cow milk products throughout its network, including 30,000 stores throughout China.
“We are truly excited to set out on this joint venture,” Bubs founder and CEO Kristy Carr commented at a signing ceremony yesterday.
“[It’s] a true partnership in every way [that] will lift Bubs profile and access to the Mother and Baby store channel, which is critical to success in the broader Chinese market.”
The signing ceremony with Beingmate was accompanied by signing ceremonies formalising Bubs Australia’s partnership with Alibaba’s Tmall, and an equity-linked alliance with Chemist Warehouse.
“The milestones we are celebrating today with such renowned partners, as well the recent acquisition of Australia Deloraine Dairy… means we are well placed to pursue our strategic goals towards profitable growth,” confirmed Bubs Australia chairman, Dennis Lin.
Speaking at the signing ceremony, Alibaba Group’s Managing Director for Australia and New Zealand Maggie Zhou said demand in China for high quality Australian products continues to grow.
“The mother and baby category continues to be one of the best performing for exports from Australia to China via Alibaba’s Tmall marketplace,” she said.