The subsidiary of tuna multinational Thai Union sees a growing opportunity for its products in China, the UK, Germany, France, and the Netherlands.
For this reason, the firm is setting up new ventures in Shanghai, China, and Utrecht, Netherlands, to oversee the import, sales, and distribution of pet food and products into China and Europe.
According to Just Food, i-Tail set up with a capital of CNY10 million ($1.4M) in its Chinese division and a further $1.1 million (€1M) in the Dutch unit.
Registration of both subsidiaries was completed last month.
China’s potential
The company considers China a strategically important market with heightened demand for premium wet pet food. Pichitchai Wongpiya, CEO of i-Tails, said it plans to further establish its presence in the country by finding retail customers with their own brands (private labels).
The same is planned for the company’s business in Europe. “The pet food market in Europe, including the UK, surpassed $16.1 billion (€14.9B) in 2021 and is expected to increase to $18.6 billion (€17.2B) by 2026. We wish to capitalize on this and expand the business of animal feed and pet-related products in this region,” he added.
A few months ago, i-Tails raised $588 million (€544.7M) after going public on the Thailand Stock Exchange.
