Infant-formula and baby-food supplier Bubs Australia has moved into Vietnam, adding another market in Asia to its network.
Bubs is to sell products into Bibo Mart JS Company, which it described as “Vietnam’s largest mother-and-baby store chain”.
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The retailer has more than 135 stores, predominantly located in major metropolitan areas.
To supply the retailer and other chains in Vietnam, Bubs has signed up Viet Nam TVV Service and Trading Company Limited (TVV) as distributor.
Bubs founder and CEO Kristy Carr said: “This new partnership with TVV and ranging in Bibo Mart marks the achievement of another milestone for the Bubs’ business, expanding our Asian footprint in one of the region’s fastest growth markets in the infant category.”
TVV will distribute and promote Bubs’ goat-milk infant formula and organic baby food. Products are expected on Bibo Mart and other Vietnamese store shelves from next month.
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By GlobalDataBubs said a “conservative revenue projection” generated from this initial distribution agreement in Vietnam is expected to be AUD1.5m (US$1m) in the first year and “growing to at least AUD2m by the second year”. The contract lasts two years and may be terminated if those minimum sales targets are not met, Bubs added.
TVV founder and CEO Van Ngo said: “We particularly see enormous potential in Bubs’ goat-milk infant formula for the Vietnam market.”
