Provexis enters new China distribution agreement
By Josh White
Date: Monday 16 Nov 2020
(Sharecast News) - Provexis announced on Monday that it has entered into a distribution agreement for its 'Fruitflow' heart health functional food ingredient in China, with a company set to act as distributor for 'Fruitflow+ Omega-3' under the Chinese cross-border e-commerce (CBEC) framework.
The AIM-traded tirm said CBEC regulations included a waiver of the existing China pre-importation registration requirements on specified categories of products, permitting overseas exporters to sell consumer goods directly to Chinese consumers through certain registered e-commerce platforms.
It said the agreement would grant the unnamed distributor exclusive rights to import, market and sell its Fruitflow+ Omega-3 dietary supplement product in China through the CBEC channel, with immediate effect.
The distributor would purchase Fruitflow+ Omega-3 as required from the company, and would then market and sell Fruitflow+ Omega-3 in China through its existing network of e-commerce and other sales channels.
"We are delighted to announce this distribution agreement for Fruitflow+ Omega-3 in China through the CBEC channel, at a time of record online spending in China," said chief executive officer Ian Ford.
"More than 290 million people in China are now thought to have cardiovascular disease, an upward trend which is projected to continue.
"The company's Fruitflow+ Omega-3 product has a number of proven attributes which are expected to be particularly relevant for Chinese consumers, and these attributes will be promoted strongly by the Company's new distributor."
At 1212 GMT, shares in Provexis were up 23.33% at 0.92p.
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