Else Nutrition Enters Chinese Market Via Distribution Deal With Baozun

Else Nutrition Holdings Inc BABY BABYF has inked an agreement with Baozun Inc BZUN, an e-commerce solutions provider in China, and expects to start selling Else products in China in Q3.
Else Nutrition noted China's infant formula market is projected to grow at a CAGR of 8%.
Through Baozun's e-commerce, end-to-end solutions, Else Nutrition would have direct access to retail buyers in China through a wide range of online shopping platforms.
With the recent distribution agreement signing, Else expects to start operating on China's cross-border e-commerce platforms as early as August 2022.
Price Action: BABY shares are trading higher by 1.59% at C$1.28 on TSX and BZUN higher by 0.39% at $10.39 on the last check Tuesday.