“As an organization, it is a great source of pride to be able to formally offer our products nationwide in China,” said LifeVantage CEO Darren Jensen.
“LifeVantage has a long and successful track record in Asia, and we are excited to be in a position to expand that footprint. We are thrilled about the entrepreneurial prospects this will introduce to the people of China and that they will now be able to benefit first-hand from our leading-edge products and begin their own biohacker’s journey.”
The company’s products are already available in the Asian markets of Japan, Hong Kong, and Thailand.
When asked on which online platform the products will be available, a spokesperson for the company declined to comment, citing a non-disclosure agreement. Products will be shipped directly from the U.S. to consumers there.
Initially, Protandim Nrf2 Synergizer, TrueScience skin care products, and PhysIQ Protein Shake will be available in China on the e-commerce platform. They will be the same formulations that are sold in the U.S. and will be sold at U.S. retail prices. Other products will be rolled out strategically over time.
Supplement retailers increase focus on China
LifeVantage credited a “burgeoning e-commerce market, Chinese government enthusiasm for e-commerce and entrepreneurialism, a ubiquitous need for full-time and secondary income in China, and a strong demand for nutrigenomic products” as indicators for potential business success in the giant market.
In the past year, many US supplement companies have been ramping up their efforts in China. Vitamin Shoppe entered the market in October 2017 when it launched its digital business. Additionally, GNC, which has been in business since 2011, sealed a deal with major Chinese online payment platform Alipay (owned by online retail behemoth Alibaba Group) in August 2017 in an effort to drive its ecommerce sales there.
Another indicator of growing demand for US-made supplements is the acquisition of Vitamin World by Chinese company Feihe International last month.
“China is the fastest growing consumer market in the world, and we fully anticipate China being an important market for us moving forward,” said Courtland Pearson, LifeVantage Senior Vice President of Global Field Development Asia Pacific.
In addition to these Asian markets, LifeVantage products are available to customers in the United States, United Kingdom, Australia, Canada, Mexico, Netherlands, and Germany.