PROCESSING
iStock.com/Margarita Medvedeva
Fairy bread's
key ingredient goes global
F
ounded in 1947, Dollar Sweets is a family-owned Australian business that makes cake decorating and baking products, confectionery as well as ingredients for the industrial food sector. While it had been exporting for years, exports only accounted for 10% of total revenue so it started working with Austrade to help double this figure by 2025. Over the past 12 months, Austrade has helped the food manufacturer win over $1 million in new business by taking its beloved ‘fairy bread’ ingredient, 100s & 1000s, as well as its sprinkles and other confectionery to global markets in the US and across Asia. “We wouldn’t be where we are today without Austrade,” said Philip Holm, Dollar Sweets’ Sales and Marketing Director. “Their teams in Australia and offshore have a wealth of practical experience and advice. Austrade motivates us to keep moving forward with our export plans.” The company’s export success over the past 12 months has been achieved through Austrade’s help with: • online business matching meetings and attendance at major trade shows • introductions to new retail customers and importers • reconnecting with existing distributors • seeking new opportunities with multinational customers. “Austrade did a market selection survey to help us determine which markets held the most potential for our products,” Holm said. “Once we decided on the markets, Austrade shared some key tasks we needed to do for each market. In the US, 64
March/April 2023
for instance, it was getting our products certified by the US FDA. Austrade’s in-market teams shared insights and advice, helped us workshop plans and introduced us to distributors. “Importantly, Austrade acts as a checkpoint for our business,” Holm said. “At our monthly meetings, we follow up on the previous month’s actions and set tasks for the next month.”
Dream entry into the US market In May 2022, Dollar Sweets took part in a virtual business matching program organised by Austrade. Over three days, it met with 15 US retailers and distributors, including discount retailer 99 Only. “99 Only placed a $300,000 order for our range of seasonal baking ingredients and products,” Holm said. “We also signed non-disclosure agreements with three large retail chains. We are in ongoing discussions with 10 companies for private-label business. It was a dream entry into the market.” Buoyed by its success, Dollar Sweets attended PMLA’s Private Label Trade Show in November 2022. The company was one of 11 Australian companies at the Australia Pavilion, hosted by Austrade. “It was an incredibly successful experience,” Holm said. “We had face-to-face meetings with the buyers we met at the virtual business matching program. We met new potential customers at the event and networked with other Australian suppliers. Austrade also organised trade visits for us.” Dollar Sweets is in ongoing negotiations with six US retailers it met at the trade show. “If successful, we are looking at total sales worth over $2 million,” Holm said.
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