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CVT - Record sales at 618 festival in China

Tuesday 27th June 2023

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Comvita Limited (NZX: CVT ) is pleased to report record sales in the recent 618 shopping festival in China. The 618 festival is the second biggest of the year and Comvita reported sales improved by over 12% vs pcp, outperforming all other Mānuka honey brands on the two leading e-commerce platforms confirming their strong brand and market leadership in China. Comvita was the number one honey brand on Tmall, Tmall Global and Tmall Supermarket along with being number one in JD, Hema and TikTok. Comvita also made the Tmall Top 10 Brands in the healthy food category and was the leading international brand in this prestigious list, reflecting the fact that Comvita is being recognised more and more as a premium health and wellness lifestyle brand.

 

Commenting, David Banfield Group CEO said “I am so proud of our performance in China. Once again, the team have been able to deliver a standout result in the second most important shopping event in China. We believe that our unique premium and differentiated business model, and long-term strategy is continuing to build momentum and is further evidence of our ability to materially increase long-term household penetration and consumer loyalty in the China market”.

 

Comvita has a unique ‘End to End’ business model with around 350 people employed in markets outside of New Zealand to ensure that Comvita is better connected to customers and consumers in market and is able to adapt at speed to meet local market changes and needs.

 

Comvita retains its full year guidance as previously reported.

 

Ends.

 

 

For further information contact:

 

Kelly Bennett, One Plus One Communications

 

Mobile: +64 21 380 035

 

Email: kelly.bennett@oneplusonegroup.co.nz

 

Background information

 

Comvita (NZX: CVT ) was founded in 1974, with a purpose to heal and protect the world through the natural power of the hive.  With a team of 550+ people globally, united with more than 1.6 billion bees, we are the global market leader in Mānuka honey and bee consumer goods. Seeking to understand, but never to alter, we test and verify all our bee-product ingredients are of the highest quality in our own government-recognised and accredited laboratory.  We are growing industry scientific knowledge on bee welfare, Mānuka trees and the many benefits of Mānuka honey and propolis.  We have pledged to be carbon neutral by 2025 and carbon positive by 2030, and we are planting 1-2million native trees every year. Comvita has operations in Australia, China, North America, South East Asia, and Europe – and of course, Aotearoa New Zealand, where our bees are thriving.



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