Chinese distributor and producer of tangerines and other fresh fruit posted a total revenue of more than US$8m in the first quarter, an increase of 984 per cent compared to the same period last year.
“The company’s business development is in line with our strategic plans,” said chief executive of China Fruits Quanlong Chen in a press release. Chen attributed the fast growth rate to the company’s focus on developing its overseas market, with more than US$5m in revenue from overseas sales, coming mainly from Thailand, Dubai and Indonesia.
Chen also noted the growth in China Fruit’s domestic market, recognising the success of subsidiary company Taina’s Miss Fruit beauty contest launched in March as part of a marketing campaign to increase brand recognition.
China Fruit expects sales to increase throughout the year and plans to operate 64 stores in China by the end of 2014, having already opened six new stores in Beijing in the last year.
