GNC plans big expansion in India
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Health and wellness brand GNC India is planning major expansion by increasing its availability to 4000 stores by 2020.
The retailer will partner with pharmacy chain Guardian Healthcare Services, its master franchise in the market, to distribute GNC products to 1000 retail outlets this year, and boost its business to multiple channels, encompassing retail, e-commerce and distribution.
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,” says Ken Martindale, GNC’s CEO.
“Guardian is an established player in India’s health and wellness industry and we believe the strength of our two companies 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 2017 report, India’s nutraceutical market is currently estimated to be US$4 billion in 2017 and expected to grow to $10 billion in 2022.
GNC arrived in India in 2004 and is currently available at 50 of Guardian’s stores.
Questions & Answers
Q.What is the planned total number of stores GNC India aims to reach by 2020?
What is the planned total number of stores GNC India aims to reach by 2020?
GNC India intends to significantly increase its availability to 4000 stores by 2020. This expansion aims to boost its market presence across various channels, including traditional retail and e-commerce platforms.
Q.Which company is GNC partnering with to facilitate its expansion in India?
Which company is GNC partnering with to facilitate its expansion in India?
GNC is partnering with Guardian Healthcare Services, which serves as its master franchise in the Indian market. Guardian Healthcare Services will distribute GNC products to 1000 retail outlets this year as part of the expansion.
Q.What is the current estimated value of India's nutraceutical market, and what is its projected value?
What is the current estimated value of India's nutraceutical market, and what is its projected value?
India's nutraceutical market was estimated at US$4 billion in 2017. It is expected to grow significantly, reaching a projected value of $10 billion by 2022, according to a 2017 report.
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