Bright Dairy launches premium yogurt in Hong Kong, first stop in overseas sales push
China Bright Food Group, the country’s second-biggest foodstuff producer by revenue, has launched a premium yogurt product in Hong Kong, the first step in an overseas push to put its products on the supermarket shelves of Macau, Thailand, Singapore and Indonesia.
“Hong Kong is only our first stop, we want to go places further,” said Luo Hai, deputy general manager of the company’s Bright Dairy & Food subsidiary, during a press conference in Hong Kong. The Shanghai-based company is aligning its overseas strategies “to be in line with the government’s Belt and Road Initiative, to expand to countries” along the way, he said.
Bright, founded in 1911, is mainly engaged in the development, production, and sales of dairy products in China. The company has the dominant share of its home market of Shanghai, as well as other cities in southern China.
Third-quarter net profit rose 24.3 per cent to 529 million yuan, backed by a 6.7 per cent sales growth to 16.5 billion yuan (US$2.49 billion).
The company is counting on its hit product, a premium yogurt produced by villagers of Momchilovtsi in southern Bulgaria, to repeat its sales success beyond mainland China. The product, containing a bacteria that’s beneficial to digestion and health, can be drank with a straw and doesn’t require refrigeration.
