Australian infant formula maker Bubs’ nearly two-month long boardroom saga has come to a conclusion, with most shareholders voting against founder Kristy Carr’s attempt to remove the current board.
Infant formula producer Bubs Australia said its gross revenue has China dropped by 66 per cent, and its new Manufacturer-to-Consumer (M2C) sale channel in the country has been delayed, due to disruptions caused by China’s prolonged COVID-19 lockdowns.
The oversupply of infant formulas by various brands has led to a slowdown in revenue growth for Australian organic goat milk specialist Bubs, and the firm foresees that the situation will continue to include the upcoming Double 11 shopping festival.
Bubs Australia is hoping to expand its presence in China via the general trade route through the introduction of its first China-label goat milk infant formula.
This round-up will look at developments of brands in the health and nutrition industry, including how brands such as Bubs Australia and Bellamy’s Organic have successfully gained access to the infant formula market in US, as well as Nestle Health Science’s...
This week, we have interviews with Rick Pedersen, president, Ornua Ingredients North America, and Dennis Lin, chairman of Bubs. We also have our weekly look at the global dairy markets with Charlie Hyland at StoneX.
Goat infant formula was the "most profitable" segment for Bubs Australia in the last quarter, up 118%, with its home market performing well amid a sales decline in China.
