Vitasoy reportedly targeted with bomb threat amidst boycott calls in China

Shortly after Hong Kong brand Vitasoy International faced a boycott in China, the brand was also on the receiving end of bomb threats, multiple media outlets including RTHK and The Standard reported. A bomb threat was allegedly sent to Vitasoy's Facebook page stating that a bomb will be detonated at the company's headquarters, The Standard reported. While a search of the scene by police officers turned up nought, media reports said the case is still currently under investigation. MARKETING-INTERACTIVE has reached out to Vitasoy for comment.

Vitasoy came under the media spotlight recently after a memo surfaced where it was found to have expressed condolences to one of its employees' families. The employee in question committed suicide on 1 July after stabbing a police officer. The incident occurred on the 24th anniversary of Hong Kong's handover to China and the Chinese Communist Party's 100th anniversary. According to the South China Morning Post, the city's police labelled this act as "lone-wolf terrorism". This led to backlash from Chinese consumers and also saw Chinese actors Gong Jun and Ren Jialun parting ways with Vitasoy. Hashtags such as "boycott Vitasoy", "Vitasoy get out of China", and "stay away from Vitasoy" trended on Weibo. Meanwhile, the backlash resulted in Vitasoy's stock plunging 12% to HK$25.95 on 5 July, SCMP reported, adding that this was the brand's "worst single-day loss" since 30 March 2020.

Mainland China is no doubt a crucial market for Vitasoy. According to its financial statement for FY2020/2021 ended 31 March this year, Mainland China posted revenue of about HK$5 million surpassing that of Hong Kong (HK$1.86 million), Australia and New Zealand (HK$528k) and Singapore (HK$118k). In total, the company posted revenue of HK$7.5 million.

Its financial report added that Mainland China's revenue grew by 8% in local currency terms, leading the Group's overall recovery with both its core brands - Vitasoy and Vita - growing. Another notable area was also the acceleration of its online new retail business during the year, Vitasoy added.

It also opened a new Dongguan factory despite the challenging period posed by the pandemic. At the same time, the company also "significantly increased" its investments in the second half of the year as the pandemic limitations progressively eased. "We will continue to drive our growth vectors of improved execution in existing customers, and geographical expansion primarily in Mainland China. Our innovation pipeline is strong, relevant and ready to be progressively deployed," the group said in its financial statement previously.

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