SYDNEY, March 1 (Xinhua) -- An Australian bottled water company has its sights set on the Chinese market after launching on the ASX on Tuesday.
Tianmei Beverage Group Chairman Tony Sherlock told the AFR that his company has supply deals with nearly a thousand retailers in the Guangdong region in China to stock their premium range of water.
Tianmei has plans to sell bottled water, locally sourced in China that is slightly alkaline with trace elements of lithium and selenium, to take advantage of the growing concerns about sugary products in Chinas booming middle class.
"Around the world there's a recognition that sugar in drinks is undesirable," Sherlock said.
"In China, people are also thinking about this and I think we'll find a continued trend against sugary drinks."
The company plans on adopting a sensible growth strategy to ensure that they achieve success in the lucrative Chinese market.
"It's not rocket science," Mr Sherlock said. "If we do it properly, and we're measured and sensible, I think shareholders will be happy with it."
Tianmei is currently trading at 21 Australian cents per share on Wednesday after their initial float valued shares at 20 cents on Tuesday.
