The company is aiming for sales of $400m by 2020. Comvita’s share price has jumped from $4 a year ago to more than $12 today. The company reported a record profit for 2015-2016 of $17.2 million, up 68 percent on the previous year. Mr Baskin stressed several times that Comvita was not a honey company but a natural health products company.
After manuka honey, their other major product is olive leaf extract, which is Australia-based. The company is increasing its product range, including fish oil capsules and berries, especially blackcurrants.
Adding value is a key component of the company’s aproach. Mr Baskin said security of supply was crucial and core to the business.
The majority of Comvita honey supply came from independent New Zealand beekeepers or the company’s own Kiwi Bee operations.
Continued development of supply chain strategies and long-term partnerships with producers were crucial. Honey products could be traced from retail outlets back to the hive of origin.
The company has more than 400 kiosks and “flagship” shops in China, while other outlets are based in Hong Kong, Taiwan, South Korea, Japan, United Kingdom and New Zealand.
“We want to be the most trusted natural health products company in the world,’’ said Mr Baskin.
