Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Comvita Opens Branch Office In Taiwan

August 2, 2004

Comvita Opens Branch Office In Taiwan

Export-oriented marketer of natural health products, Comvita Limited, has opened a branch office in Taiwan, the world’s second largest market for propolis, Comvita’s most lucrative export product.

The move adds to the company’s physical offshore presence in Japan, Hong Kong and Australia.

Taiwan is viewed by Comvita as a market of untapped potential for its health products. It has been exporting products there since the early 1990’s. The decision to open an office in Taiwan was made in order to further realise this potential.

Charged with the overall responsibility for the new project, Comvita’s sales and marketing manager Scott Coulter has led the move to establish the Comvita Taiwan Branch Office in Taipei.

“Marketing control by way of a subsidiary company will provide opportunities for flexibility on pricing, increased distribution and investment in marketing, as well as an improved margin,” he says. “It will also enable us to more effectively advertise and promote our products within the Taiwanese market, as well as closely partner our local distributors.”

Coulter says there’s a ready market in Taiwan for Comvita products based on New Zealand-sourced propolis which is recognised as being technically superior.

This is confirmed by Comvita’s Asia regional manager, Sam Tsoi, who is responsible for sales growth and distribution in Taiwan.

“Our Taiwan branch office now presents us with a key opportunity to achieve growth in sales to Taiwanese resident in that country following their initial exposure to the brand in New Zealand,” says Tsoi.

He refers to the large number of Taiwanese, and Asians generally, holidaying or residing in New Zealand who purchase Comvita products here.

“We have several outstanding opportunities lined up to capitalise on the brand awareness generated by our marketing activities in New Zealand.”

Tsoi says having a physical presence in Taiwan will facilitate growth and assist Comvita in developing the marketing infrastructure required within that unique market.

Comvita’s expansion into Taiwan is a continuation of a New Zealand export success story. It has won numerous export and business awards, including the 2003 New Zealand Trade & Industry Consumer products Exporter of the Year Award.

New Zealand Trade and Enterprise will provide financial assistance for the Taiwan branch office project through the Growth Services Fund. The grant will enable Comvita to advance the project and will assist with initial expenses.

The company’s long-term strategy of investing in key offshore markets seems to be paying off with export revenues making a major contribution to its profits. Comvita’s sales have been growing over the past five years at a compounded rate of 23 per cent.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Food Prices Increase 7.4 Percent Annually
Food prices were 7.4 percent higher in July 2022 compared with July 2021, Stats NZ said today... More>>



REINZ: Market Activity And Prices Continue To Ease, First Home Buyers Start To Return To The Market

New Zealand’s winter property market continues its recent trend, slowing from the pace of sales and price rises of last year — properties stay on the market longer and median prices dip... More>>

FMA: Cigna Admits Making False And Misleading Representations
Cigna Life Insurance New Zealand Limited has admitted to making false and/or misleading representations to customers in proceedings brought by the Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko... More>>



Retail NZ: Welcomes Return Of Cruise Ships

“Cruise visitors were big spenders in retail prior to COVID-19, and retailers in Auckland will be celebrating the arrival of P&O’s Pacific Explorer this morning... More>>



ASB: Full Year Results: Building Resilience Today And For Our Future

In its 175th year, ASB has reported a cash net profit after tax of $1,418 million for the 12 months to 30 June 2022, an increase of $122 million or 9% on the prior year... More>>


Commerce Commission: Draft Determination On News Publishers’ Association’s Collective Bargaining Application
The Commerce Commission (Commission) has reached a preliminary view that it should allow the News Publishers’ Association of New Zealand (NPA) to collectively negotiate with Meta and Google... More>>