Aussie-listed Wellnex is breaking open the B2C market for the first time with an e-commerce platform and a new brand – TheSet.Co – which will look to drive sales deep into the lucrative and underexplored health and wellness online universe.

Health and wellness company Wellnex Life (ASX:WNX) has launched a new e-commerce platform and brand TheSet.Co with 19 new products ready to roll.

The launch will enable WNX to take advantage of the growing domestic online sales market for health and wellness self-care products, worth $1.5 billion and forecast to increase to $3.5 billion by 2026. (Source noted: Slide 21 of Adore Beauty investor presentation released 29 Aug 2022).

TheSet.Co platform will provide WNX with healthy margins with its business-to-consumer (B2C) model and validates its objective of bringing new, innovative brands and products to the fast-growing health and wellness market in Australia.

B2C retail for first time

It will be the first time WNX has sold directly to consumers with the diverse and unique offering of 19 initial products, spanning recovery, energise, refresh, and protect.

The offering of high-quality, self-care products have been rigorously tested to ensure the highest of quality, with a plan to keep rolling new products out to build on the portfolio.

WNX is focused on growing awareness of the platform and brands to accelerate revenue. It is being promoted as a one-stop platform for new self-care solutions for anyone with an active lifestyle that is looking for no fuss, hardworking and functional products.

The company has also considered the environmental impact of the cosmetic and skincare industry, producing innovative solutions without compromising on quality.

Increased margins of ~45%

TheSet.Co will provide substantially increased margins of ~45% compared to traditional retail sales and is expected to significantly increase the overall margins of the business.

TheSet.Co has gone live with a soft launch and will officially launch on November 15.

The launch of TheSet.Co is further good news for WNX, which recently announced it had raised $5.965 million under a Share Purchase Plan and private placement, and record revenue of $6.88 million in Q1 FY23, up 81% vs Q1 FY22.

“The launch opens new opportunities for Wellnex online retail channels for health and wellness –a large and growing channel with significant consumer demand,” CEO George Karafotias said.

Join an investor briefing

Join a live online investor briefing with Wellnex Life CEO George Karafotias on Tuesday 8th  November at 12pm (AEDT). Click here to register.

This article was developed in collaboration with Wellnex Life, 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.

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