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| Lv Yongjie and his entourage visit IGA Supermarkets stores |
On the afternoon of June 3, Secretary of the Party Committee and Chairman of Bright Food (Group) Co., Ltd. Lv Yongjie, accompanied by Vice President Ge Junjie, went on an investigative tour at the headquarters and logistics center of Manassen Foods, with a view to acquiring a better knowledge of the company and holding discussions with its management team.
During the tour, Chairman Lv Yongjie listened to reports by the management team of Manassen Foods, and learned more about the business model of Manassen Foods, its development in its core areas of business, how its private brands were faring in the market, its agent business, and its management of logistics operations. Owning its international procurement channels and sales network, Manassen Foods commanded fairly high market shares in many market segments, including dry fruit, cheese, sauces, and fruit processing and exports. The business model of Manassen Foods features brand operations and agent business at its core, the company's private brands as its backbone, and modern logistics as a form of supply chain support. Moreover, it features global direct purchases, and direct connection with major Australian retail channels, thereby giving Manassen Foods a strong competitive edge and strong profitability.
Lv Yongjie and his entourage visited the logistics center of Manassen Foods and listened to a report by CFO of Manassen Foods Wayne McIntosh on how the facility was managed and operated. The logistics center boasts a highly efficient, flexible logistics and distribution system, employing a full-process information management system and an advanced radio frequency tracking system. In addition, it owns 5 distribution centers across Australia, well positioned to directly deliver goods to any customers in Australia.
In the afternoon, Lv Yongjie and his entourage paid a visit to some facilities of Woolworth (a leading retail chain in Australia), Dan Murphy's (a famous liquor store in Australia), and IGA Supermarkets, with the aim of gaining the working knowledge of how Manassen Foods operated, its networks, and its brand marketing. Lv Yongjie affirmed his support for the operating state and model of Dan Murphy's, making it clear that Manassen Foods should cooperate with Dan Murphy's and learn from its business model. Sales Director of Manassen Foods Jim reported on how the company's retail channels had been operating, saying that Manassen Foods owned a number of private brands that led in the market and each of which took the first or second position in their respective market segments. These private brands account for about 65% of all of Manassen Foods' sales, said Sales Director Jim, and operations revolving around private brands were one of the reasons why Manassen Foods had been able to sustain its growth.
During the tour, Lv Yongjie spoke highly of the business model, operating state, corporate values, and management team of Manassen Foods. He pointed out that Manassen Foods owned a great number of private brands that helped it command a fairly high market share, had its own channels and storage support network, and boasted a proven outstanding business model, which made it easy for Manassen Foods to make effective, profitable investments and acquisitions in Australia. He further stressed that Manassen Foods should blend more closely with Bright Food Group, work harder to improve in terms of products and brands, give full play to its capability of achieving bidirectional synergy in the broad effort to go global, try to become a platform by which Bright Food Group connects its Chinese and Australian markets and achieves synergy in its Sino-Australian projects. Lv Yongjie hoped that Manassen Foods would become a gateway by which products manufactured by Bright Food Group and other Chinese-made foods could enter the Australian market.
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