‘Highly promising’: The Vitamin Shoppe eyes omnichannel expansion in Asia after launches in Korea and Vietnam
The subsidiary of NASDAQ-listed Franchise Group believes that Asia is a highly promising growth region.
Last month, it announced the launch of its official e-commerce platform in Korea, as well as digital storefronts on 20 other online marketplaces, including 11st, Auction, Coupang, Domeggook, G9, Gmarket, Interpark, Lotte, Naver, Qoo10 etc.
In January, the company also opened its first retail store in Asia in Hanoi’s Hoan Kiem district with local firm Kim Lien Group. Within a month, another store was opened in Hanoi’s Dong Da district.
“Asia is a highly promising growth region for The Vitamin Shoppe, with a vast population of health-conscious consumers looking for high-quality wellness solutions to meet their individual lifestyle needs,” Sharon Leite, CEO of The Vitamin Shoppe, said in response to queries from NutraIngredients-Asia.
The retailer sells supplements from its in-house brands, including same name brand The Vitamin Shoppe, Vthrive, BodyTech, fitfactor, plnt, ProBioCare, and True Athlete.
Leite added that the introduction of The Vitamin Shoppe into Asia was partly due to Asian consumers’ exposure to the brand while they visited the US – which was especially the case for its launch in Vietnam.
“I’m especially honoured that our partnership was originally sparked by the first-hand experience of Mr Anh Hoang, vice-chairman of Kim Lien Group, who was a customer of The Vitamin Shoppe in the US and was impressed with our products and customer experience. This created the ideal opportunity to launch our first Asian retail stores together,” she said.
To date, some of the popular supplements sold in Vietnam have been its immunity products, omega-3 fish oils, black seed oil, and magnesium.
Outside of Asia, the company also operates retail stores in Panama, Guatemala, and Paraguay.
Elsewhere in Korea, the company is starting with a digital-first strategy. Nearly 300 products are now available in the country.
“South Korea is one of the largest e-commerce markets in the world serving a digitally-savvy population, which aligns perfectly with our online launch strategy. Korean consumers are highly health conscious and many customers have first discovered The Vitamin Shoppe while visiting the United States.
“They now have the ease and convenience of ordering directly from our South Korea website, as well as via our online marketplace partners,” she said.
Nonetheless, she highlighted that the company was interested to grow in both online and offline retail in Asia.
“We are interested in both retail stores and online, as we believe in an omnichannel strategy that serves customers where and when they want to shop,” she said.