- RooLife Group (RLG) has been appointed by a consumer goods supplier to sell its products in China
- FRUTEEC is a South America-based supplier of fresh foods, dried fruits, oil, dairy, milk, and conserves to more than five countries
- This appointment will enable RooLife to market and sells FRUTEEC’s fresh produce in China, with first sales expected to begin later in the month
- The contract runs for 12 months and is renewable once the period has come to an end
- To support this initiative, RooLife has appointed Vincent Lo to assist with the market entry into China
- Vincent is the former NAB Head of Group Development, China — a role in which he was responsible for formulating development strategies and identifying business opportunities
- RooLife is steady on the market and shares are trading at 2.3 cents
RooLife Group (RLG) has been appointed by a consumer goods supplier to sell its products in China.
FRUTEEC is a South America-based supplier of fresh foods, dried fruits, oil, dairy, milk, and conserves to more than five countries across three continents.
It is a leader in the fresh produce international trading sector, having operated in Spain, Chile, China, Peru, Mexico, and the U.S.
This appointment will enable RooLife to market and sell FRUTEEC’s fresh produce in China, with first sales expected to begin later in the month.
The contract runs for 12 months and is renewable once the period has come to an end. Additionally, either party can terminate with immediate effect.
At this time, RLG says it’s unable to accurately forecast revenue and will provide updates in its quarterly reporting.
To support this initiative, RooLife has appointed Vincent Lo to assist with the market entry into China.
Vincent is the former NAB Head of Group Development, China — a role in which he was responsible for formulating development strategies, identifying business opportunities, and driving entry plans in China.
He also maintained relationships with state and private institutions in China’s agriculture, food, and beverage industries.
As a result of this partnership, RLG expects its half-year revenue to December to increase by 40 per cent from December 2019’s result of $1.56 million.
Promisingly, this growth is expected to continue into the March quarter.
RooLife is steady on the market and shares are trading at 2.3 cents at 2:18 pm AEDT.