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42 Below Founders Sell Fragrances In China

Contributor:
Fuseworks Media
Fuseworks Media

Wellington, Sept 23 NZPA - The Business Bakery LP, an investment company started by the former owners of vodka company 42 Below, is backing an Australian fragrance firm's foray into China.

The Bakery has a controlling interest in Ecoya, which in a joint venture with a local Chinese company has opened its first dedicated store in the wealthy Gubei district of Shanghai.

The Australian company produces home fragrance and body care products and the balance of the equity is held by founder and chief executive Craig Schweighoffer.

The Bakery is owned by Stephen Sinclair, Grant Baker and Geoff Ross. Mr Ross was the frontman for the successful marketing of 42 Below, being referred to as a liquor legend and chief vodka bloke during a career in which he took the vodka brand from a Wellington garage to world recognition.

Mr Ross said today that the new store for Ecoya was the first of several branded flagship shops planned in global markets.

"Our joint venture partner has plans to open more stores in China. This first store is for consumer sales and to act as a showcase for other potential distributors from other regions.

"Then we are looking to extend beyond China in the medium term," Mr Ross said.

Ecoya has plans to enter the west coast of the US in 2010 where The Bakery owners have a network of contacts from their 42 Below days.

The Bakery got involved with Ecoya early 2008. It also recently purchased a 19 percent stake in finance company Dorchester Finance.

42 Below was sold to Bacardi for $138 million in 2006.

NZPA WGT pjg gt

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