The new CEO at leading Australian supplements brand Blackmore’s says he wants the company to ‘rejuvenate’ business activity in its home market.

In a letter to shareholders, Alastair Symington says “lifting the performance” of Blackmore’s Australian business will be critical for building the strong foundations needed for international growth.

Symington writes: “Consumers in China and other parts of Asia aspire to buy leading Australian brands and products with the highest quality standards. As the market leader in Australia, it is our responsibility to continue to find ways to drive category growth. We will do this by best understanding consumer and practitioner needs, developing a well-defined brand and customer value proposition and executing with excellence by best leveraging our assets.”

Symington notes that despite Blackmores’ significant growth in recent years, the business – which has been market leader in Australia for 87 years – is experiencing unprecedented levels of competition and retailer demands. “We operate in a dynamic industry where consumer expectations and competitive forces are constantly evolving,” he says.

Part of the challenge for Blackmore’s is that the Australian VDS (vitamins and dietary supplements) market has been flat for the last five years. Delivering growth in the valuable Asia markets therefore remains a top priority for the company.  

Of this strategy, Symington writes: “The opportunity in China is clear. We need to expand our in-country reach, building our business around a multi-channel consumer-based offering for mainland China. Whether shoppers buy from cross border e- commerce, domestic e-retailers or in the traditional trade, we must be in-tune with the consumer journey. Our ability to do all of this while driving down consumer cost-per-acquisition will be key. 

“It is my intention to continue to find the best opportunities for Blackmores to strengthen partnerships in all our top markets in Asia – China, Indonesia, Malaysia and Thailand, as well as back at home in Australia. The same is true for new market entry. How we continue to build this great company will be unique and carefully mapped to the local market situation.” 

Photo: Blackmore’s CEO, Alastair Symington. Blackmore’s