News Snapshot:
Despite the end of Beijing’s restrictive COVID-19 policies, and the re-opening of international borders, Ms Rathie said on Friday it is yet to see the expected uplift in sales to China, which is facing a falling birthrate and oversupply of the infant formula market. China constitutes about 20 per cent of revenue. Sales there fell 56 per cent in March quarter with significant amounts of inventory still held in trade, predominately Bubs Supreme. “This is significantly impacting the replenishment volume and therefore new sales to China. The Bubs Supreme brand was initially custom-made for principal corporate daigou partner, AZ Global,”...
