The people of Hong Kong and Macau are set to receive yet another non-dairy alternative when it comes to their morning latte or bubble tea.
Wide Open Agriculture (ASX: WOA) has signed a distribution agreement with Metro Alliance Ltd. to distribute their carbon-neutral, regenerative oat milk through the region. Metro will also complete sales, marketing and management of supply within the region.
An apt partner for the venture, Metro Alliance is a subsidiary of Bright Food Global Distribution Company which services over 1,600 locations in Hong Kong and Macau.
The 3 year agreement will see WOA’s retail brand Dirty Clean Food oat milk line the shelves of stores in four different flavours- Original, Barista, Chocolate and Coffee.
Metro has estimated that the products’ first year of retail sales will rake in AUD $1.7 million, meaning AUD $700,000 in revenue for the brand.
The new distribution agreement comes after a productive six months at WOA which saw distribution agreements signed for Singapore and the Middle East as well as national expansion in Australia across Woolworths stores.
WOA is committed to being early to market in the plant based milk space given the huge potential market growth.
CEO of Dirty Clean Food, Jay Albany said: “We are thrilled to work with Metro Alliance. We view Hong Kong and Macau as strategically important markets as we further the expansion of our brand into plant-based products in Asia.”
The first shipment is anticipated to arrive in March 2022. Further expansion is planned for this year as WOA continues construction work on a commercial scale plant-based milk production facility in Melbourne which will produce the world’s lowest carbon emissions per litre of oat milk, adding to their sustainability claims and environmental edge.
Samantha Freidin is a business journalist at Emerald Financial whilst also completing a Masters of Marketing and Digital Communications at Monash University.
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