CHINA – Dutch agricultural commodity trader, Louis Dreyfus Company (LDC) has a launched its new coffee brand ‘iCoffee’ and a new packaged cooking oil brand ‘Mastergold’ in China.
LDC’s new packaged oil brand, Mastergold, provides high-end, nutritious cooking oil, as part of the commodity trader’s strategy to move downstream to meet the increasing demand in the Chinese market.
The new drip coffee brand, iCoffee, includes a variety of roasted coffee beans, drip coffee packs, and freeze-dried coffee powder from 12 major coffee origins around the globe.
Speaking during the launch at the second China International Import Expo (CIIE) in Shanghai, Ian McIntosh, LDC’s Group CEO said; “Our strategy to diversify our activities along the value chain from farm to fork fits perfectly with evolving consumer demand in China today.
“We will continue to invest in and grow with China, with a common vision of a safe, dynamic and innovative path forward in the food and drinks sector.
“Our strategy to diversify our activities along the value chain from farm to fork fits perfectly with evolving consumer demand in China today.”
The company said the launches demonstrate its ambitious strategy to embrace more of the agricultural and food value chain, from grower to end consumer, and offer sustainable and traceable products.
Andrea Maserati, LDC’s Chief Operating Officer said; “As living standards rise, consumer demand for safe, high-quality food and drink is evolving in China, and we see potential to expand downstream to meet their expectations.
During event, LDC also signed new agreements with Chinese partners, to further enrich its offering of quality goods to Chinese consumers.
“As one of the longest-standing foreign investors in China, we are proud of our moves to forge closer ties with customers and consumers in China,” said James Zhou, LDC Global Vice President and regional head for LDC North Asia.
“We are keen to continue to identify and pursue opportunities to do so, working with local partners and stakeholders.”
As the LDC celebrates 30 years in the coffee business this year, it has signed an agreement with Luckin Coffee to establish a joint venture (JV) to develop a co-branded Luckin Juice business in China.
The business will focus on co-branded Not From Concentrate (NFC) orange, lemon and apple juices, for which LDC plans to build its own bottling plant in the future.
LDC also plans to bottle and brand other fruit and vegetable juices. Luckin Coffee stores will play an important role as sales outlets, while the business also plans to market its juices via other channels.