This is a transcript of the video interview:
For investors watching, Blackmores Limited is listed on the ASX Stock Exchange with the ticker code BKL.
Good morning Christine, today Blackmores is launching a range of infant nutritional products, please tell us about those.
Last October Barry Irvin and myself, he's the Chairman of Bega, announced forming a joint venture to develop a range of nutritional and medicinal foods, and the first of those are three infant formula products that we are announcing today and really it's the beginning of a really exciting journey for us.
So, the exciting part is you are joining companies that have got a huge history of value for the Australian market, generating a product that is going to have a global demand.
Well, both of our companies are strong iconic Australian companies which have been in the households of Australian families for generations. Barry through Tatura has over 120 years experience in dairy and Blackmores has over 80 years of experience in nutrition.
We are completely complimentary in what we do, but what we are absolutely committed, and similiar in, is our commitment to quality, sustainability, environment and value based cultures, our people.
So that's made it a really exciting combination to come together and to bring all that expertise to develop a product that mums can trust.
Christine, how do you see the company growing now with this new partnership and with these export opportunities.
Look, this new partnership gives Blackmores an opportunity to build on the expertise and leverage we have and take it, and expand it, into a new area so it's one more part of our diversity strategy.
I think it's also really important that at the heart of our strategy is our consumers and these are products our consumers have been asking us for, so I think the fact that we can achieve the needs of our consumers and also benefit the company leveraging their expertise and knowledge in a new market, and clearly we're creating something where there is a very strong demand for here in Australia but also in Asia.
I think what's exciting for me is, is that we're able to leverage our very strong relationships both in Australia and in Asia with Pharmacy. Blackmores is the leading brand in Pharmacy here in Australia and of course we are in many of the countries we are operating in in Asia.
We have about 40% market share in Thailand in natural health products and Pharmacy, so we believe that a very responsible place for particular infant formula should be sold in Pharmacy because that's where mums get good advice. They can count on good health care professional advice and work out whether these products are right for them or not.
So I know that part of that distribution, because Blackmores has very strong distribution capability, but you are actually limiting the distribution to those organisations that can provide that value of advice to the consumer.
We are initially, because we feel for the launch it's really important that the mums in Australia get to understand what the products are about, and the best way to do that is to get good healthcare advice, so we are restricting it initially to Pharmacy. We have made sure we've got national distribution of that.
We've been working with people like the Pharmacy Guild to make sure that we've got training inside Pharmacy so they understand what the products are and the benefits, also when not to use them.
And we also have here, in Blackmores, we have an advisory service available where we have a breastfeeding counsellor who will be online to help mums make those choices - what's right for them.
Today we're at the Blackmores' facility in Sydney, in Warriewood, and it's a significant launch today. You've got a number of people here, you've got the Federal Minister for Trade and Export, Andew Robb and Li Na.
Oh, we are so pleased to have the support of both Andrew and Li Na and for very different reasons. Andrew has made a significant contribution helping Australian companies build trade throughout Asia and to have his support and endorsement about Barry and I forming this joint venture is just fantastic and really encouraging.
Li Na, she's got to be one of the most inspirational people I have ever met. She's not only won an Open twice, in France and here in Australia, but she's a real and true believer for natural health. And of course she's a mum, and she's a new mum as well, so it's fantastic that she is with us and we are really proud to have her as a partner with Blackmores.
Well, I wish you all the best for the launch today.
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About Blackmores Limited
Blackmores Limited (ASX:BKL) (OTCMKTS:BLMMF) is Australia's leading natural health brand. Its quality range of vitamin, minerals, herbal and nutritional supplements, and continued support of the community and environment, are among the many reasons Blackmores is the most trusted name in natural health.
Bega Cheese Limited