- Roolife Group (RLG) inks a deal with Shanghai-listed No.1 Pharmaceuticals to sell its health and wellness products in China at both bricks and mortar stores
- The company has existing reach in China and No.1 operates in Shanghai with a population of more than 29 million
- The company already has sales channels through JD.com, WeChat, TikTok and Aldi China
- Management highlights that 80 per cent of profits from sales will go back to Roolife
- Shares closed at 1.2 cents on Wednesday
Roolife Group (RLG) has executed a deal with Shanghai-listed No.1 Pharmaceuticals (Hong Kong) to sell its brand portfolio in China.
The deal further extends Roolife’s sales channels in the world’s second-largest economy.
No.1 Pharmaceuticals will exclusively market a range of Roolife products, including the Remedy Drinks line of products, New Zealand Honey Co products, Fiji Kava, Hydralyte, and Roolife’s in-house VORA Protein range of supplements.
Roolife Group already possesses existing sales networks leveraging WeChat, JD.Com, and Aldi China. The company also initiated a TikTok store in 2022.
No.1 Pharmaceuticals is owned by the Chinese giant, Bailian Group.
The company expects a maiden order of $950,000 from No.1 under the deal to be reflected in the revenue statement of the next quarterly report.
No.1 primarily distributes among drug stores in Shanghai, which boasts a population of more than 29 million. The Chinese bourse listee operates both brick-and-mortar and online stores.
“This agreement … further enhances our positioning in the health, well-being, food and beverage sector in China … servicing the high consumer demand for quality international products with China’s large, emerging middle class,” Roolife CEO Bryan Carr said.
Mr Carr also noted that Roolife stands to make the bulk of the profits from sales.
“It’s a great way to start and with 80 per cent of the net profit from these product sales to drop directly to our bottom line, it highlights the value of this new partnership,” he added.
RLG shares closed at 1.2 cents on Wednesday.