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Hungarian mineral water bottler enters Chinese market

Hungarian mineral water bottler Ave is ready to enter the Chinese market after acquiring all of the necessary permits, sales director Béla Nagy said.

The first shipment of about 36,700 bottles has already arrived in Tianjin and will be delivered to buyers on Wednesday, after they pass through customs, Nagy said. Ave has spent about HUF 10 million to enter the Chinese market, Nagy said. It expects to recoup the investment in two years, he added.

Ave expects to sell 2 million – 3 million bottles of water in China this year, but the number could rise to 10 million within three years. Ave also expects to enter the market in Thailand soon. It plans to sign a contract in June with the local chain of 7/11 convenience stores to stock the water. (MTI - Econews)