Blackmores is continuing to suffer from a slump in Australian sales to ‘daigou’ buyers, with overall net profits dropping by 42.8% year-on-year, according to figures for the first nine months of its financial year.
China’s food industry can no longer rely on vast volume growth from mass market items and will increasingly have to focus on innovation around personalised, healthy and functional nutrition products to boost its fortunes.
Companies seeking to launch products in China have been told they have to be in it for long haul and make extensive preparations, ‘instead of turning up at Shanghai airport and asking trade officials for a list of distributors’.
Vitamin boss Marcus Blackmore has given $10m to the National Institute of Complementary Medicine (NCIM) at Western Sydney University in a 'no strings' donation to undertake research into complementary medicine.
China’s Commerce Ministry appears to have halted plans for more stringent cross border e-commerce rules, meaning many goods will still be regarded as personal trade, rather than for commercial distribution.
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