Glanbia looks to grow Asian online sales of nutritional products
20pc of shareholders vote against pay hikes for senior executives
Glanbia is looking at growing online sales of its nutritional products, especially in Asia, Managing Director Siobhan Talbot told the plc’s agm.
While just over 20pc of shareholders voted against a proposal to increase a salary hike for Ms Talbot and Glanbia’s Finance Director Mark Garvey, she told shareholders that health and wellness is one of the biggest global trends among consumers and governments.
Shares in Glanbia were down over 6pc in afternoon trading.
Health and wellness, she said, is a growing global trend with consumers and governments recognising that prevention is much better than medication. “It is a big market, worth over a trillion dollars and is growing globally.”
Glanbia, she said, is looking to combine the consumer desire for nutrition in a convenient offering for time-poor consumers.
She said the group is looking to increase its presence in what she called a “digital connectivity trend”. This, she said, will be done through online sales platforms such as Amazon and the Asian-based e-commerce giant Alibaba, which has 666m regular customers and is a customer of Glanbia.
Glanbia’s acquisition of Body & Fit, a Dutch-based performance nutrition brand that is only available online, she said was playing into this trend with Glanbia looking to leverage that capability.
“Consumers are very connected and people want to do everything on their smart phone. Consumers have real power through their ability and technology. They can damage or endorse brands.”