Artificial intelligence and e-commerce marketer OpenDNA (ASX: OPN) has entered into an agreement with health and wellness company Better Nature to lead its entry into the growing Chinese market.
Under a binding agreement, the Perth-headquartered company expects to generate revenue from the provision of market entry services and digital marketing.
OpenDNA will also receive commission on all Better Nature products sold through its RooLife platform.
The agreement follows hot on the heels of OpenDNA’s supply channel agreement with NNM Services, which will also pave the way for the company to step up marketing efforts for its health and wellbeing products in China.
The two back-to-back agreements form part of OpenDNA’s broader strategy to market and sell high-quality and in-demand Australian products and services to the rapidly growing consumer market in China.
According to Austrade, China’s entire health and wellbeing market is tipped to reach US$60 billion in sales by 2020.
OpenDNA’s ability to assist businesses establish and grow their brand in China follows the integration of CHOOSE Digital and RooLife last December.
The purchases led to new capabilities for OpenDNA, which include providing Australian business with access to Mandarin-language mobile shopping platforms in China and Australia.
Better Nature has produced Australian-made health and wellness products for two decades and is the preferred supplier to Perth-based netball team West Coast Fever.
OpenDNA chief executive officer Bryan Carr said he was confident Better Nature had the credentials to achieve success and sales growth in China.
“Better Nature’s products come highly endorsed as the supplier to high-level sporting teams, they are Australian-made and 100% natural and so are perfectly positioned to achieve success in China,” he said.
According to OpenDNA, the key appeal to Chinese consumers will be the fact that Better Nature’s products are naturally sourced, vegetarian, vegan friendly and Australian-made.
Better Nature chief executive officer Alain van Reyk said he was delighted to be working alongside OpenDNA to jointly grow sales.
“As the preferred supplier of Netball WA and West Coast Fever we think our products have the right pedigree and proven performance to excel in the Chinese market,” he said.