How Alibaba helped this Australian entrepreneur make millions
Brynley King from Australia’s Gold Coast is a 25-year-old entrepreneur; she has seen her family coconut oil business boom thanks to ecommerce giant Alibaba.
Banaban Virgin Coconut Oil went from a small business working out of her garage, to a multi-million dollar operation with an international reach.
Products have reached the shelves of department stores, health food shops and supermarkets in Hong Kong, Germany, Taiwan and even as far afield as Mongolia. After launching a small website on Alibaba.com King secured a deal to supply a Spanish supermarket and is now turning over almost $6 million annually.
Banaban produces around 90 coconut food and body care products, with markets overseas accounting for roughly 30 percent of sales.
Speaking to Australia's Daily Telegraph, King said: “For us from the Gold Coast, I don’t know how we could have ended up selling into a place like Mongolia. How the hell has someone from Mongolia found us? It’s just the power of Alibaba.”
The business was founded with the laudable goal of raising awareness of the plight of the Banaban islanders, who were evicted by colonial powers and forcibly resettled in Fiji.
Alibaba is ramping up its operations in Australia and is set to open an office in Melbourne at the close of this the year.