Since 2004, Comvita has created 35 branded stores and 400 kiosks within department stores. Staff numbers have climbed to 200 as the business has experienced 30% year-on-year growth.
In announcing a deal to buy a majority share in its Chinese distribution partner, Shenzhen company said it was the preferred way forward because it would provide a higher margin and bring the company closer to consumers.
The new arrangement will not see an increase in Comvita-branded stores or kiosks. The growth area was in ecommerce and would allow the company to capture an increased margin on sales.
Under the deal, Comvita will buy 51% of the Shenzhen company by transferring 2.83 million shares at USD 10.60 per share to it.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now