Jamieson to expand in Chinese market
aggressively pursuing international expansion plans to meet rising
demand in markets like China.
The company, which is currently present in 45 countries, says China is a key target in its expansion plans with sales to this market increasing by 322 per cent in the last three years.
Jamieson products are sold alongside major luxury brands in the leading retail outlets and shopping centres, such as the Lufthansa Centre in Beijing.
"Jamieson enjoys a strong relationship with our current distributor inChina, whose parent company is one of the largest state-owned businessconglomerates," said Bill Tyler, vice president of sales at the firm.
"Over the next year, we look forward to strengthening the Jamieson brand name across all regions of China."
Greater purchasing power in China, as a result of a doubling of GDP in the last 10 years - from 3679 yuan (?369) per capita in 1994 to 8500 yuan (?851) in 2004 - has driven a strong rise in vitamin consumption.
A recent report from the Asia Market Information & Development Co (AMID) estimates that consumption of vitamin supplements has risen by 17.9 per cent per annum over the last ten years, and it forecasts continued growth at almost the same rate (17.2 per cent per annum) through 2009.
With rising demand outstripping domestic supply, foreign companies like Jamieson are set to benefit. In 2004, 70,993 metric tons of vitamns and supplements had to be imported into China, according to this report.
