Hi Manaaki team,Thanks for this amazing help you provide!I’m working on introducing an innovative sustainable FMCG product to the NZ market. NZ does currently not have this product but they are available in several European markets but still fairly early stage (some facing supply issues due to high demand and not being able to scale fast enough). There are 3 options for me to get this product into the NZ market as far as I can see.1. Formulate and manufacture with a local contract manufacturer. Pros: NZ made, supporting local, potentially higher profitability. Cons: NZ manufacturers retain the IP on the formulation, NZ manufacturers currently don’t have the capability required to complete the entire product (although they are very keen but it will be at least 6 months from now before they will even start looking into it). according to manufacturers they have existing clients who are also interested to produce these products and i get the sense they will likely be prioritised once the capability is there.2. Partner with one of the European companies in some way be it via licensing or even purchasing their product at the beginning and rebrand to enter the NZ market fast before competitors do. Later potentially changing to local production if possible. Pro: first mover/early to market, ease and speed, tried and tested product, potential to benefit from higher order quantities/larger scale of European company. Cons: potentially less revenue per unit through fees, transport, import etc.; not clear if Europeans interested in partnering, existing supply constraints on their end.3. Lastly, there could be the option of working with a formulation scientist to create the formulation (retain the IP) and purchase the ingredients (easily sourced ingredients) and either self-produce or work with local manufacturer.Any thoughts, advice or potential contacts/networks to get in touch with would be much appreciated!Many thanks!
Question submitted 10/11/20 @ 05:30am