Creso Pharma’s Green Goo pet care product range is expected to unlock multiple opportunities in Singapore, South Korea and Taiwan.

Creso Pharma (ASX:CPH) has continued to advance its footprint across the Asia Pacific region after expanding its product ranging agreement with  leading Singaporean pet care distributor, Gotro Global.

The expansion deal will see Creso’s entire Green Goo animal care range stocked online through Gotro’s partner company, Happy Town Pets, a specialist ecommerce platform.

Happy Town Pets has an established client base, and is a significant distribution channel for pet care products in Singapore.

This agreement is expected to increase Creso Pharma’s presence in the growing Singaporean pet care industry, and provide additional exposure for the Green Goo brand outside of the US.

To further advance its market position in Singapore, Creso Pharma is also actively advancing its own direct-to-consumer website for the Green Goo products.

The ecommerce channel is currently under development, and is expected to be launched in the coming weeks.

Opportunities in Korea

Creso has also continued to expand the distribution footprint for its Green Goo brand in South Korea.

This follows an announcement in July last year where a Letter of Intent (LOI) was signed with Providence Animal Health Korea to import and commercialise Creso’s anibidiol product suite for the South Korean market.

With an initial purchase order for anibidiol  of $217,400, Providence has demonstrated sales growth potential to underpin international sales growth of Green Goo in Korea.

Following that recent success with anibidiol, Creso says it’s now confident that Providence can also unlock further sales growth across the country by introducing the Green Goo product range.

Product registration is currently underway, first for Green Goo Animal First Aid, with other products shortlisted for registration in the coming months.

Providence Animal Health Korea is a leading supplier of pet food products in the South Korean market.

The group has an established customer base focused on both B2B and B2C verticals, covering a number of veterinarian clinics, veterinarians and animal health shops throughout the country.

The company focuses on high-end prescription diets and pet foods, and has a strong consumer following through its established e-commerce channels.

Taiwan another market opportunity for Creso

Elsewhere, Creso Pharma has also continued to work alongside pharma and healthcare products company, China Chemical & Pharmaceutical Co (CCPC), for the introduction of Sierra Sage Herbs LLC products to the Taiwanese animal healthcare market.

CCPC has already successfully launched Animal First Aid, which is now being distributed to hundreds of veterinary clinics in Taiwan.

Creso CEO William Lay says these developments highlight the group’s ongoing momentum in key Asian markets –  with a strong focus on Singapore, Taiwan and Korea.

“The expanded distribution partnership in Singapore and South Korea provides Creso Pharma with a unique operating platform to drive further sales growth in 2023,” said Lay.

“There’s also plenty of additional upside through pending product registrations, and the recent launch of Sierra Sage Herbs product line into the Taiwanese animal healthcare market.

“We look forward to providing additional updates on growth across the Asia markets over the coming months,” he added.

This article was developed in collaboration with Creso Pharma, a Stockhead advertiser at the time of publishing.

 This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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