MELBOURNE, AUSTRALIA: Jatenergy Limited (JAT) has signed its first distribution agreement with Shanghai Gurun Wanfeng Catering Co.Ltd in China for its new plant-based meat products.
JAT has established a joint venture with leading Australian-based food manufacturer, Oppenheimer Pty Ltd, to develop plant-based meat substitute products to be sold worldwide.
Under the agreement, Shanghai Gurun has the non-exclusive right to distribute in China all of JAT’s plant-based meat products under the Vmeat label, as well as any other products developed by JAT.
The distribution agreement requires Shanghai Gurun to purchase a minimum of A$2 million of products in the first year of the two-year agreement. Shanghai Gurun will use the plant-based meat products in their own facilities as well as distributing the products to other restaurants in China.
Shanghai Gurun specialises in catering and restaurant operations and management in China. The company operates fast food restaurants in A-class office buildings, it manages restaurants at large commercial and industrial parks and provides catering services for large enterprises.
It will, through its team of chefs, provide valuable input on further plant-based products to be developed by JAT for the China market.
JAT’s CEO Wilton Yao stated that: “This is our first plant-based meat substitute order received by our new business. Shanghai Gurun will use a large proportion of the products purchased in its own operations, which are very significant in size and spread over various facilities such as in-house dining and public restaurants. The expected first year sales of$2 million to a single food group in Shanghai indicates the potential revenue to be generated from our new business. We expect to ship our first products to Shanghai Gurun in January 2020.”
JAT has also entered into an arrangement with a retailer in the “Shanghai First Foodhall” to display JAT’s products starting in early 2020. Shanghai First Foodhall is a well-known retail landmark located on Shanghai’s famous retail and walking strip, Nanjing Road.
The massive foot traffic in that location will provide exposure of the JAT products to the masses of shoppers passing through that location.
JAT’s newly recruited brand ambassador, Christopher Pang, will undertake a number of promotions of the plant-based food products. Christopher Pang is a world-famous Australian actor of Chinese descent. Christopher Pang is best known for his role as Colin Khoo in Crazy Rich Asians (2018) and Lee Takkam in Tomorrow, When the War Began (2010).
The promotions by Christopher Pang will be focused on the Chinese market and will include personal appearances, photo sessions and endorsement activities on behalf of JAT for all of its products, including the plant-based meat products.