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The partnership's first retail location opened this month in Hanoi, offering a wide range of The Vitamin Shoppe's trusted, proprietary brands in vitamins, supplements, and sports nutrition products
SECAUCUS, N.J., Jan. 25, 2021 /PRNewswire/ -- The Vitamin Shoppe®, an omni-channel specialty retailer of nutritional products, today announced a partnership agreement with Kim Lien Group for the Vietnam market. Under the country license agreement, Hanoi-based Kim Lien Group will open and operate The Vitamin Shoppe stores in Vietnam, as well as launch wholesale distribution of The Vitamin Shoppe family of proprietary brands in Vietnam.
The first store under the partnership agreement opened this month in Hanoi. The bi-level, 140 square-meter (1,500 square feet) store is located at 58B Ba Trieu Street in the Hoan Kiem district. The store offers a wide assortment of vitamins, supplements, sports nutrition, and other health and wellness products under The Vitamin Shoppe's proprietary brands, which include The Vitamin Shoppe®, Vthrive The Vitamin Shoppe™, BodyTech®, BodyTech® Elite, fitfactor Weight Management System™, fitfactor KETO™, plnt®, ProBioCare®, and True Athlete®.
Kim Lien Group will open a second Hanoi location of The Vitamin Shoppe later this month at 49 Phuong Mai Street in the Dong Da district, with additional stores to be announced. A wholesale distribution strategy for the various The Vitamin Shoppe brands will launch in coming months, with a focus on pharmacies, gyms, and spas throughout Vietnam.
This agreement marks the first country license agreement in Asia for The Vitamin Shoppe. The company currently operates country license agreements in Panama (8 stores), Guatemala (10 stores), and Paraguay (3 stores).
Sharon Leite, CEO of The Vitamin Shoppe, commented: "We are excited to bring our industry-leading expertise and innovation to the Vietnam market, where we see strong interest in our products and increasing demand for high quality health and wellness brands. Our partners at Kim Lien Group have an exceptional understanding of the Vietnam market and the knowledge and experience to make The Vitamin Shoppe a trusted destination for wellness solutions in Vietnam, as it is throughout the United States. We continue to see additional opportunities with international partners and plan to expand The Vitamin Shoppe into new growth markets."
Founded in 1994, Kim Lien Group operates a group of automotive, restaurant, and hotel businesses in Vietnam, including 16 auto dealerships across the Honda, Nissan, Mitsubishi, and MG brands.
Mr. Anh Hoang, Vice Chairman of Kim Lien Group, will manage The Vitamin Shoppe business in Vietnam. He commented: "This partnership journey started when I visited one of The Vitamin Shoppe stores in Boston to find health solutions for my mother, Madame Lien, Chairwoman of Kim Lien Group. I was impressed with the customer experience, the knowledge of the Health Enthusiasts, and the product assortment in the store. Since then, Kim Lien Group realized that the Vietnam market could benefit tremendously from the products and services of The Vitamin Shoppe. During this time, Vietnam was having serious issues with fake supplements from unknown sources distributed here. We wanted to end that fear and bring a trusted, high quality brand from the United States to Vietnam, so that consumers can confidently shop for health and wellness supplements here."
Kim Lien Group expects key product categories in Vietnam to include vitamins, probiotics and digestion, healthy aging, herbs, omegas, antioxidants, collagen, bone, and children's health. Each of The Vitamin Shoppe's proprietary brands is put through 320 rigorous quality assurance steps, and ingredient purity and potency are verified by independent, third-party labs. Consumers can feel confident that all products from The Vitamin Shoppe family of brands meet or exceed industry quality standards.
About The Vitamin Shoppe
The Vitamin Shoppe®, a subsidiary of Franchise Group Inc. (NASDAQ: FRG), is an omni-channel specialty retailer and wellness lifestyle Company with the mission of providing customers with the most trusted products, guidance, and services to help them become their best selves, however they define it. Based in Secaucus, New Jersey, the Company offers a comprehensive assortment of nutritional solutions, including vitamins, minerals, specialty supplements, herbs, sports nutrition, homeopathic remedies, green living products, and natural beauty aids. In addition to carrying products from approximately 700 national brands, The Vitamin Shoppe offers products from its proprietary brands within its owned and wholesale channels, including: The Vitamin Shoppe®, Vthrive The Vitamin Shoppe™, BodyTech®, BodyTech® Elite, fitfactor Weight Management System™, fitfactor KETO™, plnt®, ProBioCare®, and True Athlete®. The Company conducts business through over 715 company-operated retail stores under The Vitamin Shoppe and Super Supplements banners, and via its website, www.vitaminshoppe.com.
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SOURCE The Vitamin Shoppe