China Marine initiates private-label program
China Marine Food Group on Tuesday announced it signed a contract with a leading Hong Kong snack-food store chain.
The retailer will now use China Marine’s seafood snack foods exclusively for a private-label program for its 300-store roll-out in China through year’s end. The Shishi, China, company did not identify the retailer.
China Marine’s Roasted Squid, Roasted Sliced Octopus, Roasted Sliced Squid, Roasted Shredded Squid and Roasted Sea Robin will be packaged in specially designed bags at China Marine’s Shishi facility for delivery and placement in the 300 stores. The program will be managed through China Marine’s distribution network to facilitate store restocking and point-of-sale support.
China Marine has projected revenues of USD 3 million (EUR 2 million) for the program’s first year.
“This marks an important development for our company,” said Pengfei Liu, China Marine chairman and CEO. “Our new chain customer is recognized throughout Asia and is well known to provide its customers with only the highest quality foods under its brand name. Since customers of the chain pay a premium for such foods, we are pleased the company has recognized our ability to supply quality products to support their fast growing network of stores throughout China.”
China Marine Food Group produces and distributes processed seafood snack-food products and fresh and frozen seafood in five Chinese provinces. Founded in 1994, the company has grown steadily and positioned its Mingxiang brand as a category leader in 1,300 retail outlets in China.