PITTSBURGH, March 8, 2018 /PRNewswire/ -- General Nutrition
Corporation (NYSE: GNC) announced plans to grow its business in
India, where the company has had a
presence since 2004.
As part of its larger international growth strategy, GNC is
working with master franchise partner, Guardian Healthcare Services
Pvt. Ltd. ("Guardian"), to aggressively expand in India, from approximately 50 retail locations
primarily in Guardian pharmacies, to multiple channels,
encompassing retail, e-commerce and distribution, among others. As
part of this strategy, Guardian intends to make GNC products
available in approximately 4,000 new retail outlets across
India by 2020. The company expects
1,000 retail outlets to add GNC products to their offering this
year. GNC India will also market and sell its full product line
through the company's website and via other e-commerce players.
"We are very excited about our expansion plans in India, where there is significant opportunity
for growth," said Ken Martindale,
chief executive officer of GNC. "Guardian Healthcare Services is an
established player in India's
health and wellness industry and we believe the strength of our two
company's will position us as one of the leaders in this attractive
and fast growing market."
According to the Associated Chambers of Commerce and Industry in
India (ASSOCHAM) 2017 report,
India's nutraceutical market is
currently estimated to be $4B in 2017
and expected to growth to $10B in
2022 yielding a ~20% CAGR.
About GNC
GNC Holdings, Inc. (NYSE: GNC) - Headquartered in
Pittsburgh, PA - is a leading
global specialty health, wellness and performance retailer.
GNC connects customers to their best selves by offering a
premium assortment of heath, wellness and performance products,
including protein, performance supplements, weight management
supplements, vitamins, herbs and greens, wellness supplements,
health and beauty, food and drink and other general merchandise.
This assortment features proprietary GNC and nationally recognized
third-party brands.
GNC's diversified, multi-channel business model generates
revenue from product sales through company-owned retail stores,
domestic and international franchise activities, third-party
contract manufacturing, e-commerce and corporate partnerships. As
of December 31, 2017, GNC had
approximately 9,000 locations, of which approximately 6,700 retail
locations are in the United States
(including approximately 2,400 Rite Aid franchise
store-within-a-store locations) and franchise operations in
approximately 50 countries.
About Guardian
Guardian Healthcare Services Pvt. Ltd. is India's fastest growing chain of Health,
Wellness and Beauty stores with over 50 stores in India. Staying true to its customer promise of
being "100% Reliable", Guardian is committed to selling only 100%
genuine medicines and OTC products. Its pharmacies enjoy the
enviable position of being "The Chemists India trusts".
Guardian Healthcare aims to provide cure, care and convenience
to its customers. Each of its pharmacies is manned by qualified and
highly trained pharmacists who advise patients on their health and
wellness.
Guardian has been honored as the "Most Admired Retailer" of the
Year (2010) in Healthcare and Lifecare category at the India Retail
Forum. The brand has also won the 'Reid & Taylor Retail
Excellence Award' in Beauty, Wellness and Fitness Category and
Images Beauty & Wellness Awards (2012) in the category of
Beauty Products Retailer of the year.
Guardian Healthcare is the master franchisee for GNC in
India, with exclusive distribution
and marketing rights.
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SOURCE GNC Holdings, Inc.