Illustrative image (Source: FoodBev Media) Hanoi (VNA) - The formula milk company Bubs Australia announced on November 11 that it had reached an agreement with Vietnam TVV Service and Trading Co., Ltd. to distribute its formula milk products for children in Vietnam via the mother and baby store chain BiboMart JS Company.
The range of products from Bubs will officially hit the shelves of 135 BiboMart supermarkets, starting from early December 2019.
A Bubs representative said that the two-year deal is expected to generate revenue of approximately 1.02 million USD during the first year, and 1.36 million USD in the second year.
Bubs expressed its desire to enter into a long-term partnership in Vietnam.
According to Bubs, the new partnership with TVV and Bibo Mart marks a new milestone as the Australian firms seek to expand into Asia and Vietnam, a country that it considers to be one of the region's fastest growing markets.
Ngo Tran Khanh Van, CEO of TVV, said she believes that there is huge potential for the Bubs brand domestically, adding that cooperation with Bubs Australia presents an important opportunity due to the firm’s high-quality products and intensive nutrition formula.
The Australian enterprise is a well-known brand of goat milk and is regarded as an intensive and fully-produced form of "organic" milk in its home country./.
VNA
