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Blackmores faces big test in cracking infant formula market
April 11, 2016 - 5:51PM
Investors have dumped shares in Blackmores amid a Chinese crackdown on foreign foods, just as the market darling faces one of its biggest tests with a major assault on the Australian infant formula market.
Confidential market data obtained by Fairfax Media reveals that Blackmores' much anticipated range of infant formula – which has so far only been available online and via pharmacies – has failed to win over Australian mums and dads.
Blackmores has managed to win just 0.1 per cent of the $173 million formula market in Australian pharmacies.
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