The subsidiary of tuna multinational Thai Union i-Tails intends to grow in China, the UK, Germany, France, and the Netherlands.
In order to manage sales, import and distribution of pet food to Europe and China, the company builds new establishments in China, Utrecht, Shanghai and the Netherlands.
The Chinese division of the company was established with a capital of CNY 10 million ($1.4M) and the Dutch division with $1.1 million (€1M).
i-Tails assumes that the Chinese market is strategically important with an increasing demand for premium wet pet food. According to i-Tails‘ CEO Pichitchai Wongpiya, the company’s expansion strategy is to provide retail customers with their own brands
The company follows the same plans for Europe’s businesses. “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 continued.
The company has recently raised $588 million (€544.7M) when it went public on on the Thailand Stock Exchange.