Australian high-end goat milk formula powder brand Bubs (ASX: BUB) and Chinese infant products and services company Beingmate hope to establish a joint venture to sell Bubs infant milk powder and supplementary food in 30,000 mother and child stores across China.
Kristy Carr, the founder and CEO of Bubs, praised Beingmate for her knowledge of the local Chinese market, her familiarity with regulatory rules, her understanding of consumer preferences and her good sales network. Beingmate is a listed company on the Shenzhen Stock Exchange, which produces 280 kinds of infant nutrition products. The company identifies with the Bubs brand and believes that it has great growth potential in China.
Beingmate established a joint venture with New Zealand Fonterra in Australia, but ended its partnership last year.
