Swisse owner H&H makes Aussie infant formula market move with Biostime
Other chains on board include Priceline and Discount Pharmacy, while supermodel and former Victoria's Secret angel Miranda Kerr has signed on as brand ambassador.
With plans in place for a January 2019 launch, the company is set to compete with other major Australian infant formula firms, such as the a2 Milk Company (a2MC) and Bellamy’s.
The launch will begin with two products in January, and Biostime has revealed it is sourcing milk from the renowned Isigny Sainte-Mere dairy co-operative in Normandy, France to develop its infant formula products.
This move is expected to not only rake in additional Australian sales for Biostime, but also strengthen its business in China. Currently, infant nutrition accounts for approximately 50% of H&H's international revenues.
Ambassadorial duties
H&H global marketing director Severine Brichard said there was a "strong alignment" between Biostime and what Kerr represented, adding that she would play a substantial role in the brand's global marketing strategy.
Swisse recently had a spot of controversy with one of its celebrity ambassadors, Chinese actress Fan Bingbing, who had disappeared from public view after allegations of her tax evasion from Chinese authorities surfaced.
She reappeared several months later to issue a grovelling apology to the Chinese government and promise to pay back nearly US$114.7m in fines and back taxes, though she managed to avoid imprisonment.
Consistently confident
H&H's move into Australia's infant formula market comes just after Swisse was named the top imported brand across all product categories on both the Tmall and Taobao platforms at Alibaba's recent Singles' Day sale event.
Not long before that, the vitamin brand had announced a 41% increase in its revenues for the three months ended September 30, and a 29.3% increase between January and September this year, attributed to continued strong performance in both its Australian and Chinese markets.
