China’s Yili Group to enter Southeast Asian market

Chinese dairy firm Yili Group has revealed plans to make significant investments to enter the Southeast Asian dairy market this year.

To develop the entire industrial chain in the Southeast Asian dairy industry, the Chinese firm intends to use its industrial research and development capabilities to empower local suppliers.

Yili Group vice-president Yipeng Zhang said: “Southeast Asia, the region with the fastest economic growth rate in the world, has almost unlimited potential, particularly in the development of the dairy industry.

“In the future, Yili will diversify investment in Southeast Asian countries, bringing health products and concepts, and will also share new opportunities with local partners.”

With an established global resource, innovation and marketing system, Yili intends to accelerate the flow of resources between Southeast Asia and the global market.

Using its research resources in Asia, Europe, Oceania and North America, the Chinese dairy firm will create an integrated global talent pool, advancing technological innovation to establish a ‘global wisdom chain’.

In recent years, the company has accelerated its expansion into the Southeast Asian market with the launch of its ‘Joyday’ ice cream brand in Jakarta, Indonesia.

Last December, Yili Group signed an agreement to acquire Thailand-based ice cream company Chomthana for an undisclosed sum.

Chomthana is one of the largest domestic frozen food distributors in Thailand. It manufactures ice cream, bread and dessert.

Besides catering to the domestic market, Chomthana’s products are exported to 13 countries across the globe.