T&G Global returns to profitability
Fresh produce grower and exporter T&G Global has overturned last year’s dismal performance by reporting a half year net profit of $1.7 million.
T&G Global chief executive Gareth Edgecombe says the company's dual-hemisphere multi-sourcing strategy has led to the opportunity for a significant commercial volume of locally grown apples in China, which is an important part of its growth strategy.
He says the Envy brand was developed in NZ by harnessing Kiwi-IP and is on track to become a billion-dollar brand.
"To meet forecast consumer demand of 18 million tray carton equivalents by 2030, we need to maximise our multi-country sourcing strategy across the Northern and Southern Hemispheres," Edgecombe explains.
"That's why we license the growing of Envy in New Zealand and in other countries, including China. Doing this helps ensure the continual availability of the brand and that consumers and retailers have confidence in the legitimacy and quality of the fruit."
Initially, T&G Global worked with Joy Wing Mao, who were granted a license in 2018 to grow and sell a managed commercial volume of Envy in China. It's these volumes which are now appearing on-shelf in China.
"Growing the brand's footprint requires us to ensure we have the right protections in place to vigorously protect and defend our IP for the benefit of breeders, growers, retailers and T&G," Edgecombe adds.
"This is something we've always done and will continue to do through plant variety rights, patents and trademarks, along with the support of leading intellectual property law firms both in New Zealand and offshore."
The company's variety management subsidiary VentureFruit manages the licensing of all T&G's plant varieties and brands.
It also leads action against any unauthorised plantings, propagation, counterfeiting and trademark infringements.
