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- Walmart China has ordered Keytone Dairy’s milk powder for its Sam’s Club stores
- The first order of milk powders is for the sum of NZ$107,000
- Keytone will provide personalised packaging for the membership only retailer
- Sam’s club has 18 superstores in China, making it a strategic partnership
- Keytone’s share price is up 1.27 per cent today, currently sitting at $0.40 apiece
Walmart China has placed an order to stock ASX-listed Keytone Dairy’s milk powder products.
The private label whole milk and skim milk powders will be sold in Sam’s Clubs, Walmart’s membership-only stores, throughout China.
Under the contract terms, there are no specified quantities or dollar amounts with Walmart. Keytone will deliver the personalised packaged products to Sam’s Club upon each order from the retail giant.
The first order of milk powders is for the sum of NZ$107,000.
Sam’s Club has over 50 million members globally and has 18 superstores in China. For the fiscal year ending January 31 2018, Sam’s Club generated US$50 billion in global revenue.
Customers can shop in physical stores and online via WeChat.
Keytone said, based on the size of Sam’s Club in China, partnering with the company is a strategic move.
Going forward, the company plans to work on its strategic partnership with Walmart China and increase its order volume.
Keytone’s share price is up 1.27 per cent today, currently sitting at $0.40 apiece, as of AEST 1:07 pm.
