Kagome鈥檚 new unit eyes sales
Print Edition
JAPAN’S largest vegetable juice maker Kagome Co hopes its new Shanghai unit will be able to generate sales as its Hangzhou-based subsidiary is being liquidated, the company told Shanghai Daily yesterday.
“Kagome Hangzhou Foods Co is under the process of liquidation due to difficulties gaining market share on the (Chinese) mainland,” said Nakamura Ryo, the Japanese firm’s spokesman. “But we established a new Kagome Shanghai Beverage Co instead as we aim to expand sales in China.”
Kagome said yesterday it would cooperate with Tingyi (Cayman Islands) Holding Co to widen the distribution of products in department stores and supermarkets.
The eight-year-old Hangzhou subsidiary, mainly producing tomato and carrot juices, made only 18 million yuan (US$2.9 million) in sales in 2014, down 61 percent from 2013, the company’s annual report said.
Its miniscule sales trailed the 55.4 billion-yuan sales of vegetable juice in the Chinese market during the first half of 2014, data compiled by Shangpu Consulting Co showed.
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