China Kangtai Cactus Biotech Inc., a vertically integrated grower, developer, manufacturer and marketer of a variety of cactus-based products in China, announced today that it has signed sales agreements with Apollo Duty Free Shop GMBH and Tobosst Duty Free Shop GMBH, two of the biggest duty-free stores in Frankfurt, to sell Kangtai’s cactus-based “Sheng Cao” cigarettes in Germany.
Kangtai’s cactus-based “Sheng Cao” cigarettes
The company has completed market surveys in Frankfurt and received positive consumer feedback. China Kangtai also invited several German tobacco dealers to help the company improve the taste and smell of “Sheng Cao” to enhance its quality. The company signed the agreements with the two duty-free companies in August and expects new revenue from the German market will be approximately 2.7 million EUR annually (approximately $3.7 million USD). Kangtai has initiated discussions with these two companies about possible sales of cactus powder and neutraceuticals.
Apollo is one of the largest professional duty-free companies in Germany and represents well-known European brands. Apollo’s retail store located at Romerberg serves 100,000 customers annually and has monthly sales of around one million EUR (approximately $1.4 million USD). Tobosst’s retail stores, along the Main River, sell luxury products such as watches, furniture, and tobacco products and have annual revenue over 10 million EUR (approximately $14 million USD).
China Kangtai CEO Jinjiang Wang said, “Expanding our market to Europe is an important step for our company. Besides the expected increase in cigarette revenue, this milestone for our company attests to the high quality of our products and demonstrates that Kangtai’s strong sales and promotion team has great potential to further penetrate the European markets and add new revenue streams that will increase the value of our company.”
