Client NewsSealand Capital Galaxy Limited: Exclusive Distribution Contracts Update
Sealand Capital Galaxy Limited (LSE: SCGL) is pleased to announce that it has entered an exclusive, three-year product-specific distribution contract with ITP Bulgaria Ltd (“ITP”) to become the sole distributor of ITP’s Living Garden Honey brand in Hong Kong, Macau, and mainland China (“the territories”). The Company will sell Living Garden Honey (the “Honey”) online through its England Pie Tmall flagship store, through other local networks, and will actively explore further offline sales channels. The Company also plans to sell the Honey through Harvey Nichols in Hong Kong where the Company is already an authorised supplier of certain other fine European goods.
According to sales data from Tmall, the major Chinese-language website for business-to-consumer online retail, the total amount of honey sold through the platform in 2020 was RMB 1.2 billion, an increase of 51% over 2019. Imported honey accounts for about 30% of total market sales on Tmall.
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