New product line forecasted to contribute $9.0 million in revenues for 2011
XI'AN, China, Feb. 16, 2011 /PRNewswire-Asia-FirstCall/ -- SkyPeople Fruit Juice, Inc. (Nasdaq: SPU) ("SkyPeople" or "the Company") a processor and manufacturer of kiwifruit, apple, pear and other concentrated specialty fruit juices and manufacturer of Hedetang-branded fruit beverages, today announced a new fruit beverages brand, Qian Mei Duo ™ ("Good for You"), targeted to one of China's strongest consumer demographics, 18 to 29 year old Chinese women.
SkyPeople developed and introduced Qian Mei Duo™ to further extend its position as a leader in high-quality, health-conscious beverages in China. According to SkyPeople, Qian Mei Duo™'s market niche and value to health conscious consumers is its high fiber content which boasts more than 7.5 grams of fiber per 250ml single-serve carton. There are four different Qian Mei Duo™ juice flavors including apple, mulberry, kiwifruit and pomegranate. The juice blend, packaging and labeling were formulated and designed at the Company's Xi'an headquarters over the last six months and have been test marketed in Xi'an and Beijing since November of 2010. Consumer feedback was positive and SkyPeople contracted Sanmenxia Prima Cider Juice Co., Ltd. in Henan Province, to blend and package the product line for SkyPeople in a Tetra Pak, with a straw and punch tab for convenient “on the go” consumption in a 250ml juice carton.
Link to Qian Mei Duo™ Products on SkyPeople Fruit Juice Website. http://www.skypeoplefruitjuice.com/products/qian-mei-duo---carton-fruit-juices
"Qian Mei Duo™ caters to one of China's most appealing consumer demographics, women 18-29 years old," began Mr. Yongke Xue, CEO of SkyPeople Fruit Juice. "High-fiber foods and beverages are just beginning to penetrate the Chinese market and we believe Qian Mei Duo™ is one of the first brands to target female consumers looking to improve and maintain their health. We have received strong support from retail partners and distributors looking for 100% natural branded juice beverages and particularly a functional beverage high in fiber. We also researched 'juice box' packaging and opted to launch Qian Mei Duo ™ in a carton due to the preference of our target demographic. After further evaluation, we may begin bottling the juice in 350ml PET package and 280ml glass bottle on our dedicated juice bottling lines currently producing our Hedetang brand of juices. With more Chinese consumers drinking juice beverages as a healthy alternative to carbonated soft drinks, we are poised to generate robust growth in both our Hedetang and Qian Mei Duo brands in 2011."
Qian Mei Duo™ single-serve juice carton (250ml), 12-pack gift box and 24-pack box have been placed side by side with SkyPeople's Hedetang juices in select Wal-Mart and La Cuisine Royale retail stores in Xi'an and Beijing. Retail prices for Qian Mei Duo™'s single serve juice cartons are RMB4.80 ($0.73) each, RMB55.90 ($8.48) for the 12-pack gift box and RMB115.20 ($17.47) for 24-pack box. The Company expects to leverage its current distribution channels to expedite sales through the existing markets it serves. SkyPeople plans to expand distribution throughout the year, including CR Vanguard's stores, Lotus stores and Ren Ren Le stores in Xi'an and Beijing throughout February and March of 2011. The distribution expansion will be supported by in-store taste testing, promotions and campaigns at universities and colleges. Management anticipates over $9.0 million in sales of Qian Mei Duo™ beverages in 2011, with average gross margins of approximately 30%.
About SkyPeople Fruit Juice, Inc.
SkyPeople Fruit Juice, Inc., a Florida company, through its wholly-owned subsidiary Pacific Industry Holding Group Co., Ltd., a Vanuatu company, holds 99.78% ownership interest in SkyPeople Juice Group Co., Ltd. ("SkyPeople (China)"). SkyPeople (China) is engaged in the production and sales of fruit juice concentrates (including fruit purees, fruit puree concentrates, and clear fruit juice concentrates), fruit beverages (including fruit juice beverages and fruit cider beverages), and other fruit related products (including primarily organic and non-organic fresh fruits, kiwifruit seeds and apple aroma) in and from the PRC. Its fruit juice concentrates are sold to domestic customers and exported directly or via distributors. Fruit juice concentrates are used as a basic ingredient component in the food industry. Its brand, Hedetang, which is a registered trademark in the PRC, is positioned as a high quality, healthy and nutritious end-use juice beverage. For more information, please visit http://www.skypeoplefruitjuice.com.
Forward-Looking Statements
This press release contains certain "forward-looking statements" that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to, the Company's ability to obtain the necessary financing to continue and expand operations, to market its products in new markets and to offer products at competitive pricing, to attract and retain management, and to integrate and maintain technical information and management information systems, political and economic factors in the PRC, compliance requirement of laws and regulations of the PRC, the effects of currency policies and fluctuations, general economic conditions and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information, please contact: |
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COMPANY |
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SkyPeople Fruit Juice, Inc. |
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Ms. Spring Liu, CFO |
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Tel: US +1-818-390-1272 |
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Email: spring_liu@skypeoplejuice.com |
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Web: www.skypeoplefruitjuice.com |
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INVESTOR RELATIONS: |
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John Mattio, SVP |
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HC International, Inc. |
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Tel: US +1-203-616-5144 |
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Email: john.mattio@hcinternational.net |
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