Nutritional Growth Solutions hits new heights with South Korean expansion deal
Health & Biotech
Health & Biotech
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Nutritional Growth Solutions will start to sell its products in South Korea as its global expansion continues to hit new heights.
Paediatric nutritional products provider Nutritional Growth Solutions (ASX:NGS) will launch its scientifically formulated and clinically proven Healthy Heights range in South Korea following a supply agreement with the country’s largest online retailer, Coupang.
The non-exclusive agreement will see the popular children’s formulas, including Healthy Heights Grow Daily 3+, Grow Daily 10+, KidzProtein and KidzProtein Vegan, stocked through the online retailer that currently has 18 million active customers.
NGS CEO and Managing Director, Liron Fendell said the launch has been in the works since 2020 and is excited Coupang has signed on as its first trusted supplier in the region.
“South Korea has long been identified as a target market for Healthy Heights due to the country’s increasing demand for nutritional products for children, its large population, and growing trend towards online food sales,” she said.
The Healthy Heights patented range was scientifically formulated by paediatric doctors at the world-renowned Schneider Children’s Medical Centre.
The products have been clinically proven to fill the nutritional gaps in children’s diets to ensure they have the best chance to grow to their maximum height potential.
“I believe our background and expertise will resonate with parents in South Korea given the growing need for nutritional children’s products,” she said.
“I look forward to growing the Healthy Heights brand in South Korea and globally, to become a leading household name for child nutrition that’s trusted by parents around the world.”
NGS recently announced a solid Q2 FY22 result, including 15% quarterly revenue growth following increasing sales of its Healthy Heights product range across the US and China.
This article was developed in collaboration with Nutritional Growth Solutions, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.