Hungarian mineral water bottler enters Chinese market

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, Mr Nagy said. Ave has spent about HUF 10m to enter the Chinese market, Mr Nagy said. It expects to recoup the investment in two years, he added. The water will sell for CNY 8 a bottle (EUR 0.92), in the lower part of the CNY 7-12 range mineral water retails for in China, Mr Nagy said. There are 8-10 Chinese mineral water brands on the market and just as many foreign ones, he added. Ave expects to sell 2-3m bottles of water in China this year, but the number could rise to 10m 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.

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