Italian extra virgin olive oil has all the hallmarks to attract the attention of the Chinese population with a medium-high average income who can afford to buy approved healthy food, namely the “juice” of olives. Thanks to the demand of International restaurants in the major coastal cities, Italian exports of olive oil to China have experienced a double digit growth in the first six months of 2016. The potentiality is high everywhere, explains Stefano Rinaldi, Ceo of Salov, one of the top Italian companies in the sector with a turnover of €340 million. The company became Chinese property in 2014 as the majority of the shares were acquired by ShangHai Yimin NO.1 Foods, belonging to the multinational company Bright Food. Salov owns the brands Sagra and Filippo Berio. The latter is destined for export of which it is leader in the United States and UK.
EDUCATION FIRST – China, however, still does not reflect more than 3% of the export turnover of the company. In order to achieve a breakthrough on the Chinese market, we first need to do some educational work, says Rinaldi in view of the fact that extra virgin olive oil is not part of the consumers’ food culture. China has a strong food culture and olive oil is a relatively unknown product. Not only do we therefore strive to highlight the healthy aspect of the product, but also its use in the kitchen and especially its integration into the Chinese cuisine. Chinese consumers prefer vegetable oils to animal fats since they consider them healthier, and this culinary attitude plays in favour of the extra virgin olive oil, the most “health-conscious” choice.
FOCUS ON MOMS – China, continues Rinaldi, is, however, one of the most complex and most challenging markets in terms of negotiations. Thanks to Salov’s business model, though, which has always stood out for its international character, and owing to its entry into the Chinese group Bright Foods (a €20 billion giant), the goals are ambitious. Salov has recently opened a subsidiary in Russia, because the Tuscan company is part of the Chinese global player. We intend to face the market as educators and by doing so, we will start to heavily invest in digital media. The main targets for the consumption of Italian olive oil are mothers, as well as consumers who are curious and interested in products imported from the West, which they consider high-end and fashionable.