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Tag: asia

  • Gold prices inch up

    Gold prices inch up

    SJC gold prices went up 0.22% to VND67.15 million per tael Tueday. Gold ring prices fell 0.09% to VND53.95 million. A tael equals 37.5 grams or 1.2 ounces.

    Global spot gold increased by 0.3% at $1,791.91 per ounce as the dollar dipped, although lingering worries about further interest rate hikes from the U.S. Federal Reserve kept the non-yielding bullion’s gains in check.

    European Central Bank Vice-President Luis de Guindos signaled the bank was determined to keep raising interest rates.

    Investors also took stock of news that in top bullion consumer China, Covid-19 is sweeping through trading floors in Beijing and spreading fast in the financial hub of Shanghai. The country reported five new Covid deaths for December 19.

    “If China brings back restrictions and if that were to happen over the holiday period, it is the perfect catalyst for large moves (in gold) to the downside,” Simpson added.

  • Apple to start MacBook production in Vietnam next year

    Apple to start MacBook production in Vietnam next year

    Apple’s MacBooks are set to be produced in Vietnam starting next year for the first time, the latest of several Apple products that will be shifted to the country.

    Apple has tapped its top supplier, Taiwan’s Foxconn, to start making the laptops in Vietnam as early as around May, sources said.

    “After the MacBook production shifts, all of Apple’s flagship products basically will have one more production location beyond China … iPhones in India and MacBooks, the Apple Watch and iPads in Vietnam,” one person with direct knowledge of the matter said.

    “What Apple wants now is an ‘out of China’ option for at least part of production for all of its products.”

    The company has been working on plans to move some MacBook manufacturing to Vietnam for nearly two years, and has set up a test production line in the country, the Japanese news outlet reported earlier.

    Vietnam will make 65% of Apple wireless AirPods by 2025 as the U.S. tech giant continues to shift its production away from China, JP Morgan analysts have forecast.

    The country would also reportedly account for 20% of iPad and Apple Watch output and 5% of MacBook.

    Foxconn, a key supplier, in August leased 50.5 hectares of land in Bac Giang Province and plans to build a $300-million factory there, employing 30,000 workers.

    Vietnam has been one of the fastest growing markets for Apple products this year, with especially high demand for iPhones.

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  • Swiss Stock Exchange Gets Boost From China

    Swiss Stock Exchange Gets Boost From China

    After a record year for IPOs in 2021, the market for initial public offerings (IPO) cooled significantly this year. Yet Switzerland has been able to buck the trend.

    The Swiss stock exchange listed more companies than London and Amsterdam this year, while a recent EY study shows that globally the number of IPOs fell 45 percent from 2021, which was a record year for IPOs.

    The fourth quarter of 2022 was the weakest fourth quarter in more than 10 years, both in terms of numbers and proceeds, Tobias Meyer, head of transaction accounting and IPO services at EY in Switzerland said in the firm’s report.

    Yet, in Switzerland, the stock exchange SIX Group recorded 13 additions this year with a total volume of more than 3.8 billion Swiss francs ($4.1 billion), with 2.26 billion francs coming in the fourth quarter.

    The increase is due to a program launched by SIX and approved by the financial regulator Finma in July this year, allowing Chinese companies to list global depository receipts (GDRs) on the Swiss exchange.

    In 2022, significantly more companies went public on the Swiss stock exchange than in 2021, in particular, due to GDR listings by Chinese companies, Meyer is quoted as saying.

    However, the Chinese listings have failed to attract European investors, or even Western banks at scale, as reports. Chinese banks are pitching these listings as arbitrage opportunities where they sell new stock listings in Zurich back to shareholders in China at a discount, the outlet wrote, quoting a BNP Paribas equities expert.

    The expert also said that in future larger, more liquid offerings would transpire.

    Yet, looking ahead globally, there are no signs of a change in sentiment on the IPO market due to the difficult market environment and geopolitical tensions, with EY’s study showing that companies were still holding back on their IPO plans.

    Nonetheless with interest rate rises slowing and volatility declining, IPO activity could pick up in the second half of next year, Meyer said.

    Citigroup investment bankers recently came to a similar conclusion, saying that the second half of next year could see an increase in IPO activity when pent-up deals materialize.

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  • Zwei Wealth Adds an Experienced Wealth Manager

    Zwei Wealth Adds an Experienced Wealth Manager

    Zwei Wealth seeks to become the family office in your pocket. An experienced wealth manager joins the Zurich-based wealth advisor.

    Daniel Hug becomes a partner of the wealth advisor Zwei Wealth co-founded by former UBS chief economist Klaus Wellershoff, the firm announced Tuesday.

    As wealth officer, he manages client mandates at his new employer, using his expertise in serving ultra-high net worth individuals (UHNWI) and family offices, helping to expand the firm’s footprint.

    Like many Zwei Wealth partners, Hug looks back on a long career at UBS where he worked in wealth management as managing director for multi-family offices and in corporate banking as head of Western Europe for banks and regulated brokers. Starting in 2015, he was responsible for the high-net-worth private client segment at Liechtenstein’s LGT private bank.

    Zwei Wealth further announced that the firm has already hired 20 new advisors this year.

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  • Delgados Tequila Soda teams up with UFC

    Delgados Tequila Soda teams up with UFC

    UFC, the world’s premier mixed martial arts organization, today announced Delgados Tequila Soda as the Official Tequila Soda of UFC in Australia and New Zealand.

    The partnership will comprise of year-round activity across Australia and New Zealand, including live event integration at two UFC events in the region and VIP Sweepstakes featuring highly in-demand tickets to UFC 284: MAKHACHEV vs. VOLKANOVSKI as well as UFC event viewing parties.

    “We are absolutely delighted to welcome Australia’s Tequila Soda pioneers Delgados into the UFC fold as the Official Tequila Soda of UFC across Australia and New Zealand,” said Nick Smith, Vice President of Global Partnerships, UFC. “This partnership has culture and lifestyle at its core, and we cannot wait to introduce our fans to this refreshing drop and the ‘Sin Problemas’ ethos.”

    Brought to you by Superdrop, Delgados Tequila Soda has pioneered the Tequila Soda category in Australia. It combines Mexico’s finest blue agave tequila, soda water, and natural ingredients.

    The young tequila brand aims to transport tequila lovers to the ultimate Mexican getaway, bringing the 60s retro vacation vibes right into the palm of your hand.

    “We are thrilled to partner with the cultural juggernaut that is UFC, and we’re beyond excited to introduce their loyal fans to our delicious and refreshing tequila ready-to-drink beverage, Delgados Tequila Soda,” said Ewen Pettit, Director, Superdrop.

    “Just like our product, UFC is as real as it gets. We have a full calendar of events, activations and promotions that will truly connect with our drinkers and UFC fans. We can’t wait to get started, as all roads lead to Perth in February for UFC 284.”

    UFC fans can get their hands on a Delgados Tequila Soda in three flavours: Grapefruit & Jalapeno; Lime & Basil; and Pineapple & Ginger… all a perfect match up for your UFC Sundays over the coming months.

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  • Ugly Vodka seeks to tackle Australia’s fruit waste one bottle at a time

    Ugly Vodka seeks to tackle Australia’s fruit waste one bottle at a time

    This latest venture was created in collaboration with independent Australian music and events company, Untitled Group, and has sustainability at its core, seeking to help address food wastage, support local farmers and reduce carbon emissions.

    Ugly Vodka is made using apples that are rejected from sale at supermarkets simply because of their ‘ugly’ look. According to Horticulture Australia, this problem impacts around a quarter of all produce – 25 per cent of crops don’t leave the farm due to aesthetic reasons. Ugly Vodka has been making an impact in this issue already, with its first batch alone saving approximately 20 tonnes of ‘ugly’ apples from going to landfill where they would produce methane emissions.

    “Thanks to campaigning from eco-groups in Australia, food waste is an issue that is top of mind – people understand what ugly produce is, and what impact it has on our environment,” says Shane Barrington, Director at 80Proof.

    “Our vodka directly supports Aussie farmers at a time when drought, hail storms and extreme weather events are hitting them hard. On top of all that, we are climate negative and are actively trying to reduce wastage in every area of our supply chain from product to bottles.”

    In an effort to minimise the brand’s carbon footprint, all parts of Ugly Vodka, except the glass bottle, are produced and sourced within 80Proof’s home state of Victoria.

    Apples are sourced from the Goulburn Valley, with the juice five-times distilled with premium grain vodka then passed through an activated coconut carbon filter to maximise smoothness. The end result is a premium spirit perfect for mixed drinks and cocktails.

    The process to creating this high quality vodka was not a short one though. One of the founding partners of 80Proof grew up in the Goulburn Valley and saw the issue surrounding ‘ugly’ produce first hand, noting that up to 40 per cent of fruit was not deemed sellable solely due to aesthetics. After years in the industry, he revisited the area to discuss the idea to turn this fruit into alcohol.

    “Technically the idea has been in fruition and development for five years. However, we’ve only been full-time on the project for 18 months. There has been plenty of trial and error as no one has tried making traditional vodka from Australian ugly apples before,” said Jess Conti, Co-founder of 80Proof.

    Ugly Vodka launched to consumers online this week, and will be available to the trade in late January. In the meantime it will see a major event launch, being poured at Untitled Group’s Beyond The Valley Festival later this month to a whopping 35,000 attendees.

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  • Barilla takes the plastic out of its blue-box range

    Barilla takes the plastic out of its blue-box range

    We decided to get rid of the plastic window we had on our boxes to move towards a more sustainable solution and reduce the number of materials used for our packaging. This allowed us to avoid placing unnecessary plastic on the market, amounting to around 126.000 kg of plastic per year*.

    Although the window on our boxes wasn’t limiting the recyclability of our packs—as modern recycling systems can differentiate—we opted for a more sustainable one: as we will always look at how we can become even more sustainable at Barilla.

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  • Gold prices inch up

    Gold prices inch up

    SJC gold prices went up 0.22% to VND67.15 million per tael Tueday.

    Gold ring prices fell 0.09% to VND53.95 million. A tael equals 37.5 grams or 1.2 ounces.

    Global spot gold increased by 0.3% at $1,791.91 per ounce as the dollar dipped, although lingering worries about further interest rate hikes from the U.S. Federal Reserve kept the non-yielding bullion’s gains in check, Reuters reported.

    European Central Bank Vice-President Luis de Guindos signalled the bank was determined to keep raising interest rates.

    Investors also took stock of news that in top bullion consumer China, Covid-19 is sweeping through trading floors in Beijing and spreading fast in the financial hub of Shanghai. The country reported five new Covid deaths for December 19.

    “If China brings back restrictions and if that were to happen over the holiday period, it is the perfect catalyst for large moves (in gold) to the downside,” Simpson added.

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  • Thai coffee chain Café Amazon struggles to expand in Vietnam

    Thai coffee chain Café Amazon struggles to expand in Vietnam

    Thai coffee chain Café Amazon, which entered Vietnam two years ago, has been slow in expanding due to intense competition and the Covid-19 pandemic stymieing its plans.

    With 15 outlets mostly in Ho Chi Minh City and some southern localities, it remains a world away from its biggest competitor, Highlands Coffee, which has 573 across the country.

    Café Amazon hopes to have 20 stores by the end of this year, none in the north.

    Other competitors The Coffee House has 153 stores, Phuc Long has 118 stores and 1,062 kiosks and small outlets and Trung Nguyen Legend has 95 stores and 572 E-Coffee outlets.

    In contrast, in Thailand, Café Amazon had over 3,400 stores as of mid-2021.

    “Everyone knows the Vietnam food and beverage market is difficult and so we are in the process of opening new stores while researching into Vietnamese consumption habits,” A-Tathak Srinon, marketing director of Café Amazon Vietnam, said.

    The Vietnam operation is 60% owned by Thai state-owned oil and gas firm PTT Public Company Ltd and 40% by retail giant Central Group.

    Its first store opened in the southern province of Ben Tre in October 2020, followed soon after in two other southern localities.

    But with Covid raging in 2021, restrictions were in place year-long, which included F&B businesses having to close for months.

    Besides, it has been unable to open coffee shops at gas stations, a strategy that has underpinned its success in Thailand, where most of its outlets are in PTT Oil fuel stations.

    Srinon said Vietnamese gas stations are smaller than in Thailand and not suitable for setting up coffee shops.

    The chain is therefore is focusing on its menu to distinguish itself from other competitors, he said.

    Last week it launched three new drinks with a distinctly Thai taste, including one called Tom Yum Ice Tea.

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  • Dollar moves up at most banks

    Dollar moves up at most banks

    On Monday, the U.S. dollar went up against the Vietnamese dong at most banks and the black market.

    Vietcombank sold the dollar at VND23,800, up 0.34% from Saturday.

    Eximbank sold the greenback at VND23,770, up 0.30%.

    The rate at Techcombank is VND23,800, up 0.21%, and at ACB is VND23,900, up 0.42%.

    The State Bank of Vietnam (SBV)’s reference rate is at VND23,645, down 0.02%.

    The dollar is sold at VND24,100 on the black market, up 0.27%.

    The greenback has gained over the dong by 3.84% since the beginning of the year.

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  • Domestic car market sees sluggish sales in year-end sale season

    Domestic car market sees sluggish sales in year-end sale season

    While normally a positive time for car sales, this year the domestic automobile market is seeing gloomy days as Tet (Lunar New Year holiday) approaches.

    Sale manager of a Hyundai showroom Van Nam said since the end of the second quarter this year, car loans from commercial banks have had an interest rate of 13-15.5% a year, while car loans during the Covid-19 pandemic were between 9.5-9.9% a year.

    Car loans offered by foreign banks in Vietnam are between 10-11% per year, however, lending procedures are very strict, and borrowers must have high incomes and their salary must be paid via banks.

    His showroom’s car sales have decreased by about 40% from the beginning of this year, Vietnam News Agency quoted Nam as saying. His showroom set a target of selling 200 units in December, but it has been hard to achieve it.

    Dinh Hung, a car trader, said used car sales have been gloomier. Since he started trading used cars, this has been the bleakest time. Hung attributed his slow sales to higher interest rates and tightening credit. He complained that he had to borrow money from banks for his business, and it was very difficult to pay off his loans as his used cars have gone unsold.

    Sharing the same view, car dealer Nguyen Quyet said in the first months of this year, the used car market was boisterous and many used vehicles were even sold at higher prices than new cars due to global supply shortages. Contrary to early months, the year-end used car market is quite gloomy.

    The sluggish sales are attributed to a tightening credit market and higher interest rates.

    Tran Duc Hung, a Hanoi resident who is planning to purchase a vehicle, found himself wondering whether he should opt for a new car or not. Hung said that if he bought a new car, he would have to borrow about VND400 million ($16,670) from a commercial bank for a term of five years.

    With this loan, his car would end up costing an additional VND130 million due to bank interest.

    Nguyen Van Thang, an owner of a car dealership on Le Van Luong street, said most banks do not give priority to car loans while interest rates are quite high. This factor greatly affected the car market in general and used cars in particular, especially luxury and expensive ones. Car traders had to reduce prices in early December to lure customers.

    Nguyen Van Nam, sale manager of a Hyundai showroom in Hanoi, said that in December, he lowered prices by between VND15-30 million ($625-1,250) of popular Hyundai models such as Accent, Grand i10, and Elantra.

    Le Thai Son, a car salesman at a Honda showroom in Cau Giay District, said the prices of many Honda models were reduced, for instance, the Honda CR-V at this time would get an attractive discount of between VND70-90 million.

    Toyota Vietnam has offered a promotion campaign for models such as Veloz, Vios, or the 7-seat MPV segment with discounts of VND30-40 million. Meanwhile, many dealers have launched promotions by offering free registration or direct discounts on price.

    November auto sales posted a decline from October after four consecutive months of growth, but sales for the year so far have still achieved double-digit growth.

    According to the Vietnam Automobile Manufacturers Association (VAMA) report issued on December 13, automobile sales including imports were down 5.9% year-on-year to 36,371 units in November. CKD volume reached 18,813 units and CBU volume was 17,558 units.

    Total sales in the first 11 months this year rose 43% year-on-year to 369,334 units. Of that total, sales of CKD vehicles reached 208,822 and those of CBU imported vehicles reached 160,512 units.

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  • Societal Benefits of Online Casino Gaming

    Societal Benefits of Online Casino Gaming

    Most people assume that online casino gaming is all about having fun and playing; however, the community has diverse benefits. The idea that casinos are only based in urban areas is entirely incorrect. The introduction of internet technology in online casinos significantly changed the casino gaming industry as there was an increase in the popularity of the industry, which led to legalization in many countries. A high number of people now understand the profitability of the business.

    These developments are the reason behind the nonstop competition. New and old casinos are now incorporating the latest trends in the industry to accommodate the latest features in the industry. Therefore, for online casinos to keep up with the changes, they must keep upgrading their systems by adding recent games, graphics, and sound effects. You are probably wondering, what are the benefits of graphics and sound in a casino gaming site? Well, when casinos have a great site interface, the higher the chances of players interacting with the site are.

    Gamers enjoy different games in a casino, including the judi slot online. To increase the interaction of the different provided games, a casino has to enhance its graphics and logo, among other aspects of the website. Now, let us walk through the societal benefits of online casino gaming.

    Increased employment rate

    Anytime a business grows, it translates to an increase in job opportunities to help attend to the customers’ demands. More workforce is required to help offer guidance and solutions to people whenever a need arises. Some critical employment sectors in any casino include customer service, website developers, and technological experts. All this enables a casino to operate smoothly without inconveniencing the clients.

    An increase in the country of operation tax revenue

    Regardless of the mode of operation, either online or land-based, casinos have to remit the tax to the government in every country of operation. In addition, for the business to be legalized, it has to go through all the provided business processes, which are mostly paid for upfront. Therefore, the next time you enjoy situs judi slot gacor, know that you are contributing to tax revenue in your country.

    The rise in economic activities

    Anytime there is an increase in job opportunities, it translates to an increase in people’s living standards. When citizens of any country have improved living standards, they can afford their basic day-to-day needs. In addition, crime rates are reduced as people are busy and have a source of income.

    In conclusion, there are great benefits from online casino gaming to society. The collection of taxes from the casinos helps support a country’s operations. Casinos have now secured their system of operations for people who are usually concerned about their security. When gaming, it is important to ensure you have a budget to avoid losing all your money. The most important thing is to have a working strategy to help you hit that jackpot.

     

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  • Hemp-based skincare startup Hey Bud secures huge deal to supply 400 Priceline stores

    Hemp-based skincare startup Hey Bud secures huge deal to supply 400 Priceline stores

    Hemp-powered skincare brand Hey Bud has rolled into more than 400 Priceline stores nationwide, as the startup readies for Australian authorities to embrace a greater variety of cannabis and CBD-infused products.

    Hey Bud offers a range of serums, cleansers, and clay masks infused with hempseed oil, a natural product touted for its anti-inflammatory properties.

    While hemp is derived from the cannabis plant family, hempseed oil contains no psychoactive ingredients — even if the Hey Bud name does cheekily allude to the plant’s more well-known cousin.

    Officially launched in 2020 by Melbourne co-founders Alex Roslaniec, Ollie Watts, and Fedele D’Amico, Hey Bud commands its own webstore and an engaged, youthful fanbase with more than 210,000 Instagram followers.

    The company claims to have made $10 million in sales in its brief history.

    Partnering with Priceline will help the brand reach even more young customers, Roslaniec says, given the overlap between Hey Bud’s existing users and the pharmacy chain’s core customer base.

    “What we found from speaking to a few different retailers was that Priceline’s customer demographic really made a lot of sense for us,” Roslaniec said

    “So a lot of our customers do shop in the likes of Priceline, and they also have a very similar age demographic as well.”

    “We know customers have been wanting to see our products on store shelves for a while now, and we are so excited to finally make that happen,” co-founder Ollie Watts said in a statement.

    The company is also exploring international distribution opportunities, Fedele added.

    More broadly, the Priceline expansion will help Hey Bud on its mission of “actually educating our customers, and making sure that we are breaking down the stigma of cannabis because it doesn’t have this psychoactive component to it”.

    At the same time, Hey Bud is keeping a keen eye on the CBD product market.

    While doctors are free to prescribe pharmaceutical cannabis in certain circumstances, access to cannabis-based products like CBD oil is strictly regulated in Australia.

    Given the prevalence of legalised CBD-infused consumer products in the US, Canada, and the UK, Roslaniec says customers are eager to hear about legislative developments at home.

    “What we’re finding from a lot of our customers is they’re actually asking us, they’re looking to us for answers when CBD will become legal within Australia,” he said.

    “I believe that it’s only a matter of time before CBD and cannabis become more recreationally legalised here in Australia which we are keeping a very close eye on,” he added.

    The company is “talking to formulators overseas to understand what the process looks like as well so that we are ready to pivot into that space.”

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  • Grey Goose launches new botanically-infused spritz range

    Grey Goose launches new botanically-infused spritz range

    GREY GOOSE, the vodka most recommended by bartenders and the leader in the super-premium category, is proud to introduce GREY GOOSE Essences, made with GREY GOOSE Vodka infused with real fruit essences and cold-distilled botanicals. As the brand’s most expansive innovation to date, the range is crafted with natural flavours and was meticulously developed with the highest-quality craftsmanship and attention to detail that have become synonymous with GREY GOOSE. Following the successful launch in the US, the range will make its debut in the UK this April. Available in three fresh and distinct flavours, GREY GOOSE Essences are not simply tasted, but experienced. GREY GOOSE Essences Vodka spritz, ready to drink versions will also be launching in June – historically becoming the first ready to drink range released for the brand.

    With increasing demand for fresh tasting flavours and natural ingredients, GREY GOOSE Essences is born out of a heightened desire for simple cocktails that are brimming with vibrant flavour. Designed for those who sip mindfully, each Essences expression offers an ABV of 30%, 82 calories per 50ml, and contains no artificial ingredients. The Ready to Drink version is carefully crafted with GREY GOOSE Vodka, sparkling water, a touch of juice, and natural flavours. They are 4.5% ABV, and 250ml cans are 79 calories.  Like all GREY GOOSE products, Essences is gluten-free and made without compromise, fusing a light, smooth taste with an immersive fruit and botanical flavour palate. The trio of expressions include the bright and citrusy Strawberry & Lemongrass, the floral, yet savoury White Peach & Rosemary, and the fresh-tasting and peppery Watermelon & Basil.

    Crafted with delicious flavours at the heart of the drink, the new range allows consumers to create great tasting cocktails with ease and convenience.  Simply add with soda over ice for a refreshing yet flavourful taste of summer.

    “We’re beyond thrilled to debut GREY GOOSE Essences,” said GREY GOOSE vice president global marketing, Martin de Dreuille. “Spritzes and drinks featuring botanicals have been growing trends, and with consumers increasingly trying their hand at mixology, we knew there was an exciting opportunity to create a distinctive drink using real fruit essences that would take the guesswork out of mixing light tasting and delicious cocktails at home.”

    The flavours in each Essences expression are derived from some of the freshest fruits and highest quality botanicals from around the world—in locations such as France, Spain, Thailand, and Sri Lanka—all carefully selected by GREY GOOSE Cellar Master François Thibault. These fruits are picked at the peak of their ripeness and blended with the cold distilled botanicals and GREY GOOSE Vodka. Each batch is created using the same soft winter wheat from Picardie and water from a dedicated well in Gensac-La-Pallue that gives GREY GOOSE its signature smooth taste.

    “GREY GOOSE Essences has been a labour of love for both myself and the brand,” said Thibault. “The freshest ingredients were meticulously searched for and a unique distillation process is used for each fruit and each botanical to ensure we captured the purest flavour in every bottle. We’re so excited to bring this new drink to market and all three Essences flavours reveal the most perfect expression of the ingredients they contain.

    Essences will be available from April with a RRP of £39 for a 700ml bottle. The full range can be purchased nation-wide at Waitrose, Tesco, Majestic Wine, Costco and other leading retailers this Spring along with select on-trade accounts.

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  • ANZ Pharma becomes Fiji Kava’s distributor in New Zealand

    ANZ Pharma becomes Fiji Kava’s distributor in New Zealand

    Fiji Kava (FIJ) has appointed healthcare wholesale company ANZ Pharma as its exclusive distributor in New Zealand.

    As part of the agreement, ANZ Pharma will launch the Fiji Kava range of capsules and drinking kava in the New Zealand market.

    The products will be stocked through retail channels such as supermarkets, tourism retail outlooks and petrol, route and convenience stops.

    The contract includes a sales performance requirement of $1.1 which, if met, could extend the deal by another three years.

    “Alongside the Australian market, the New Zealand market has seen a big increase in demand for kava products over the last year,” Fiji Kava CEO Anthony Noble said.

    “The team has worked hard to find the right partner, and working with a strong company like ANZ Pharma, who have a stable of national and multinational clients including Bondi Sands, Herbs of Gold, Unilever, Red Bull and Reckitt, gives us great confidence to re-enter this important market.”

    ANZ Pharma Director Nitin Patel said the partnership was in alignment with the company’s long-term strategic goal of bringing high-quality products at great value to New Zealand consumers.