Adelaide, Oct 16, 2006 AEST (ABN Newswire) - Optima Corporation Limited's (ASX: OPC) wholly owned subsidiary, specialist scooter brand Vmoto, is pleased to announce that it has signed an agreement with a new distributor for New Zealand. The agreement signifies the continued development of the New Zealand market by Vmoto.
The first order pursuant to the new distribution agreement of 110 scooters has already been shipped to the distributor in New Zealand, who is looking to grow Vmoto's presence through the appointment of new dealers, one of which has already appointed in Christchurch.
Vmoto currently has 8 dealers in New Zealand with the first scooter sold there in 2004. Since entering the New Zealand market Vmoto has experienced solid growth, which under the terms of the new distribution agreement, is expected to continue.
Three models of scooter, namely the Milan, Monza and Monaco are now sold in the New Zealand market with the development of the brand still taking place. Vmoto's off-road range was launched into New Zealand in March 2006 following the success of those products in Australia.
"Appointment of the new distributor in New Zealand will further assist Vmoto's growth in that market and help to increase the presence of the brand there. We feel that potential for growth in the market is significant given the tendency to follow similar trends to Australia." Patrick Davin Vmoto founder and Optima Director said.
This growth potential is reinforced by the minimum order quantity outlined within the new distribution agreement. Rising fuel prices that have been a key driver behind the increase in scooter usage in Australia are also being experienced in New Zealand.
Vmoto will look to release the Montego and Matrix into the New Zealand market at the start of next year following on from the recent release of those models into Australia.
Importantly, Optima is also pleased to advise that the previous New Zealand Joint Venture operation, of which Vmoto was a 50% partner, has come to end effective immediately, resulting in Vmoto once again taking 100% control of the distribution into that market.
Contact
Kevin Skinner
Senior Consultant
FIELD PUBLIC RELATIONS
231 South Road
MILE END SA 5031
Tel: (08) 8234 9555
Fax: (08) 8234 9566
Mob: 0414 822 631
kevin@fieldpr.com.au
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