Thanks Mattyboos, couldn't access whole article so I've reposted...

Thanks Mattyboos, couldn't access whole article so I've reposted here for others trying to.

Very Interesting to read they intend to set up at least 5 major stores in China.


AuMake eyes more big daigou hubs in China

Chinese tourists with little time to spare in Australia are a target for AuMake's George Street flagship store in Sydney.

Newly listed retailer AuMake, a one-stop shop for daigou traders and Chinese tourists in Australia, is aiming to set up at least five major stores in China to short circuit the need for some entrepreneur customers to head to Australia to scout for products.

AuMake, which listed on the ASX in October 2017, expects the first substantial revenues to flow from a new trading hub in Xiamen in China in the June quarter and executive chairman Keong Chan said more would be opened in China if it delivered the right return on investment.

This meant that entrepreneurs in China would be able to access new Australian products to sell online on China e-commerce sites from the AuMake stores in China, rather than travelling to Sydney to stock up and add new products to their ranges.

"A few of them don't have the opportunity to come to Australia and can do it from there," Mr Chan said on Monday.
Mr Chan said the Xiamen outlet was "very, very similar" to the set-up of AuMake outlets in Australia including a daigou hub in Sydney's Haymarket.

A flagship AuMake store in Sydney's George Street, which opened in November, is targeting independent Chinese travellers who are short of time and want a one-stop shop with Australian brands that are sought after in China.
Mr Chan said the George Street flagship store had achieved a gross margin of 22 per cent in March.
He said ultimately AuMake was aiming for about 20 retail stores in Australia, with at least one in each capital city. Talks were underway for store openings in Brisbane and Melbourne in the first half of 2018-19.
"Quite a few people have approached us," he said.

AuMake stocks popular vitamin products, such as Blackmores and Swisse, but is also building up its own brands to try to differentiate and to offer the estimated 50,000 daigou traders in Australia a better profit margin.
"They've been buying the same thing for four years now."
Demand from Chinese consumers is strongest in wool, healthcare, cosmetics, infant formula and vitamins.
Mr Chan said AuMake would be taking the wraps off a new skincare brand soon.
AuMake acquired health supplements business Health Essence and wool products maker Jumbuck Australia last year.
AuMake shares have fallen from 79¢ on December 7 to around 28¢.
The company on Monday released quarterly sales figures that showed gross profit in the March quarter had risen by 12 per cent to $824,000, but sales had declined marginally to $5.13 million, from $5.2 million in the December quarter.
Mr Chan said there was an industry-wide traditional "seasonal low" in the daigou market from February 16 to March 2, which coincides with the Chinese New Year festival period where many daigou return home to mainland China and Chinese logistics companies shut down, limiting the flow of products to and within China.