MyEcoBag – 8L Kitchen Caddy Roll
Leading producer of sustainable packaging, MyEcoBag® and its parent company, SECOS Group Ltd, has announced a rebrand to MyEco® Group Ltd, to better support its expanding global operations and range of products, and better reflect its commitment to sustainability and innovation. The announcement comes after the Group has experienced rapid global growth, with a positive trajectory expected for 2025 and beyond.
MyEco® Group, led by CEO Richard Tegoni, is best known for its compostable caddy liners, bin bags and shopping bags, the demand for which has seen the brand grow consistently and at pace across Australia’s supermarket and wider retail sector.
Richard Tegoni said the decision to rebrand was made to better align to the company’s evolving mission, to become the world’s leader in sustainable packaging and products.
“We are here to develop and deliver eco-friendly innovations that make it easy for society to transition from harmful conventional packaging and products to high-quality sustainable alternatives that nurture the planet,” said Richard.
“We believe that by making sustainable alternatives accessible and practical, we enable society to take meaningful steps that will lead to a profound collective impact on the prosperity of our planet.
“We have developed the MyEco® Group branding to adapt to this evolving market landscape, support our expansion goals and present a revitalised brand identity that further positions us for leadership in the eco-conscious landscape. The move to MyEco® Group embodies our commitment to sustainability and innovation, aiming to resonate powerfully with today’s environmentally conscious market.”
The announcement comes as the group experienced a record quarter for MyEco® branded global sales, which increased 62.8 per cent from the prior comparative period and up 20 per cent from the prior quarter. MyEcoBag® products achieved 33 per cent growth in FY24 compared to FY23 and since January 2024, the MyEcoBag® brand of products has increased its presence and are in more than 2400 Australian stores comprising 970 Woolworths stores, 850 Coles stores, 76 Ritchies IGA and other independent retail distributors.
MyEcoBag® has continued to strengthen its position as the number one brand in Woolworths compostable bin liner sales, capturing over 50 percent share in the latest quarter. The brand has also recently captured the market lead position at Coles, recording over 40 percent share of the compostable bin liner and kitchen caddy category in the latest quarter.
Just last month, the Group launched a new partnership with Ritchies IGA, offering customers reusable compostable shopping bags as an alternative to traditional plastic and paper. The partnership followed an eight-week trial in five Ritchies IGA stores across Victoria, where the bags were so well received, that the partnership has now rolled out to all 76 Ritchies stores in Victoria, New South Wales and Queensland.
The Group has said that replacing paper and plastic retail checkout bags with compostable alternatives presented a $2.2bn market opportunity in Australia.
Additionally, the Group is set to benefit from an increase in bag and film manufacturing production in Malaysia and China, leveraging partnerships with converters to expand production capacity without significant additional CAPEX investment. The Group is also advancing new product development in collaboration with converter partners, using SECOS’ Cardia® resins and in-house product development capabilities to drive growth in new sustainable packaging categories.
During Q1 FY25 growth initiatives also continued in the US and Canada, with SECOS distributor Jewett Cameron Company (JCC) onboarding KeHe and UNFI (United Natural Foods Inc.), two of North America’s largest wholesale distributors, to supply MyEcoWorld® sustainable bags.
Earlier this year, SECOS was selected as one of the lead partners in the Federal Government’s Collaborate Research Centre (“CRC”) for Solving Plastic Waste. SECOS’s contribution of $0.6m cash and $0.3m of in-kind activity to the CRC over three years unlocks additional $1.6m of cash and in-kind contributions in funding out of the $140.6m allocated the the CRC.
“The relevant CRC projects for SECOS are aimed at developing compostable barrier film for food packaging and a social licence project aimed to educate the community and policy makers on the importance of compostable plastics as one solution to solving plastic waste,” said Richard.
“Our recently implemented global R&D centre is driving collaboration with high profile companies looking for sustainable alternatives, and it has enabled us to lead the consultation process and lobbying efforts to oppose the Victorian Government’s proposed ban of certified compostable bin caddy liners in Victoria’s FOGO system – a discussion we look forward to continuing with the Government and other industry bodies who are calling for industry reform that will lead to a positive impact on our planet.”
Looking ahead, Richard believes the rebrand will positively support the Group’s mission to help solve the conventional plastic problem with a safe and independently certified compostable alternative that leaves behind no microplastics or toxic waste.
“Now as MyEco® Group we are more steadfast than ever in our vision to become a major player in sustainable packaging and products, and the level of interest in the company’s MyEco® products and technology has never been greater. We are very excited about the company’s future and look forward to continuing this momentum in Australia and globally, into 2025 and beyond.”
Please visit https://MyEcoBag.com.au/ and https://secosgroup.com.au/ to find out more.
About MyEco® Group
MyEco® Group believes that by making sustainable alternatives accessible and practical, we enable society to take meaningful steps that will lead to a profound collective impact on the prosperity of our planet. As leaders in sustainable innovation, MyEco® Group makes choosing eco-friendly solutions effortless. Its premium resins, films, packaging, and finished goods are thoughtfully designed to help you integrate sustainability seamlessly into your business or lifestyle. Every product is a step towards a collective commitment to a healthier planet, empowering its customers to embrace sustainability as an everyday choice, not just a passing trend.
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