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RooLife Group (ASX:RLG) quenches thirst for kombucha in China

Consumer Discretionary
ASX:RLG      MCAP $4.694M
02 July 2021 12:30 (AEST)
RooLife Group (ASX:RLG) - Managing Director, Bryan Carr

Source: The Market Herald

RooLife Group (RLG) has dived into an agreement with Remedy Drinks International to launch Australia’s best-selling kombucha product in China.

Following the agreement, RLG will manage and operate social media and eCommerce platforms in China to support and drive sales of Remedy’s products and distribution activities.

Remedy is currently Australia’s number one kombucha brand, with sales stretching across New Zealand, Canada, US, UK and parts of Asia. Through the agreement, RLG has been appointed exclusive distribution rights in China.

Under the contract, RLG must meet a minimum revenue target of $5 million over a three-year period, which will be scaled up each year.

“We are excited to be working with Remedy Drinks and to be marketing and selling such a highly successful brand into China,” RLG Managing Director Bryan Carr said.

“With strong and growing demand for healthy foods in a market the size of China, we see great potential for Remedy Drinks and we are delighted to be partnering as their exclusive distributor.”

RLG is now representing and driving sales for a growing number of products and brand names into China, like Murray River Organics’ health food, Colab dry shampoo and Nuria skincare.

RooLife Group was up 16 per cent, trading at 2.9 cents at 1:10 pm AEST.

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