Vitamin Shoppe, Inc. Announces Entrance into China
SECAUCUS, N.J., Oct. 2, 2017 /PRNewswire/ -- Vitamin Shoppe, Inc. (NYSE: VSI), an omni-channel specialty retailer and manufacturer of nutritional products, today announced its subsidiary Vitamin Shoppe Global, Inc. has launched its first digital platform in China, representing the fourth new international market the Company has entered over the past two years. The Vitamin Shoppe is partnering with Macy's China Limited to bring its broad product assortment to the Chinese consumer by offering a mix of its private brand products as well as select third-party brands via Alibaba's online shopping platform- Tmall Global.
The Vitamin Shoppe's product will be shipped from its new west coast distribution center in Arizona to China. By utilizing its Arizona distribution center, The Vitamin Shoppe's goal is to deliver products to the Chinese consumer in less than two weeks, enabling the partnership to be one of the quickest suppliers of vitamins, minerals and supplements from the United States to China.
Commenting on this initiative, David Denker, Director International Development stated, "This is another example of the different strategies and partnerships we are pursuing to expand our reach and enhance the customers' experience. The Asian vitamin, mineral and supplement market is an attractive market for us exhibiting a growth rate of 6% per year and is projected to reach $20 billion in the next five years, according to Nutrition Business Journal, and we are pleased that we are able to secure ease of entry into China."
About Vitamin Shoppe, Inc. (NYSE:VSI)
The Vitamin Shoppe is an omni-channel, specialty retailer and contract manufacturer of nutritional products based in Secaucus, New Jersey. In its stores and on its website, the Company carries a comprehensive retail assortment including: vitamins, minerals, specialty supplements, herbs, sports nutrition, homeopathic remedies, green living products, and beauty aids. In addition to offering products from approximately 900 national brands, the Vitamin Shoppe also carries products under The Vitamin Shoppe®, BodyTech®, True Athlete®, MyTrition®, plnt®, ProBioCare®, Next Step® and Betancourt Nutrition® brands. The Vitamin Shoppe conducts business through more than 775 company-operated retail stores under The Vitamin Shoppe and Super Supplements retail banners, and through its website, www.vitaminshoppe.com. Follow the Vitamin Shoppe on Facebook at http://www.facebook.com/THEVITAMINSHOPPE and on Twitter at http://twitter.com/VitaminShoppe.
Forward Looking Statements
This press release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including without limitation, statements under the caption "2017 Outlook", statements regarding future financial results and performance, share repurchases, future business prospects, revenue, new stores, product offerings, store growth, working capital, liquidity, capital expenditures, capital needs and interest costs, industry based factors, including the level of competition in the vitamin, mineral and supplement industry, continued demand from the primary markets the Company serves, consumer perception of the Company's products, the availability of raw materials as well as economic conditions generally and factors more specific to the Company such as compliance with manufacturing regulations, certifications and practices and restrictions imposed by the Company's revolving credit facility, including financial covenants and limitations on the Company's ability to incur additional indebtedness and the Company's future capital requirements, and other risks, uncertainties and factors set forth under Item 1A., entitled "Risk Factors", in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and in the Company's other reports and documents filed with the SEC. These forward-looking statements can be identified by the use of words such as "outlook", "believes", "expects", "potential", "continues", "may", "will", "should", "seeks", "predicts", "intends", "plans", "estimates", "anticipates", "target", "could" or the negative version of these words or other comparable words. These statements are subject to various risks and uncertainties, many of which are outside the Company's control, including, among others the strength of the economy, changes in the overall level of consumer spending, the performance of the Company's products within the prevailing retail environment, trade restrictions, availability of suitable store locations at appropriate terms, the availability of raw material and other specific factors discussed herein and in other Company SEC filings (including reports on Forms 10-K and 10-Q filed with the SEC). The Company believes that all forward-looking statements are based on reasonable assumptions when made; however, it is impossible to predict actual results or outcomes or the effects of risks, uncertainties or other factors on anticipated results or outcomes with certainty and that, accordingly, one should not place undue reliance on these statements. Forward-looking statements speak only as of the date when made and the Company undertakes no obligation to update these statements in light of subsequent events or developments. Actual results may differ materially from anticipated results or outcomes discussed in any forward-looking statement.
SOURCE Vitamin Shoppe, Inc.
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