[Photo by Lotte Foods Co.]

<이미지를 클릭하시면 크게 보실 수 있습니다>

South Korean food company Lotte Foods Co. has set out to penetrate deeper into Vietnam’s baby formula market with the launch of a new brand, targeting 5 billion won ($4.31 million) in annual sales by 2020.

The Korean company said Monday it held a launching ceremony for its new instant formula brand Nubone in Ho Chi Minh, Vietnam. Nubone is a baby formula brand specifically catered to the Vietnamese market that would be sold in partnership with Viet Australia, the company said.

Nubone is available in three stages depending on the age of the child from zero to six years. It is enriched with both probiotics, or beneficial bacteria, and prebiotics, which stimulate the growth of friendly bacteria, to help with digestion and support infant growth, according to the company.

Nubone would be manufactured at Lotte Food’s Korean plant in Hoengseong County, Gangwon Province and shipped to Vietnam. It would leverage the distribution channels of Viet Australia, whose sales network ranges from hospitals and pharmacies to baby specialty shops across Vietnam. Viet Australia specializes in the sale and distribution of baby food in Vietnam and sells more than 1 million cans of baby formula a year.

[Photo by Lotte Foods Co.]

<이미지를 클릭하시면 크게 보실 수 있습니다>

Through this partnership, Lotte Food expects to secure stable distribution and see sustained sales growth in Vietnam. The company sold 1.5 billion won worth of instant formula in the country last year, helped by strong demand among Vietnamese moms for its products With Mom and Kid Power A+.

In addition to Nubone, Lotte Foods has released Nubone Plus, a milk formula for one- to 10-year olds that are picky eaters or show poor weight gain. The product is designed to provide a balanced healthy diet for young kids. According to the company, it is enriched with essential nutrients including vitamins and minerals, and is a high-calorie food that generates 120 kilocalories for every 100 milliliters of formula consumed.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]