PITTSBURGH, March 8, 2018 /PRNewswire/ -- General Nutrition Corporation (NYSE: GNC) announced plans to grow its business in India, where the company has had a presence since 2004.
As part of its larger international growth strategy, GNC is working with master franchise partner, Guardian Healthcare Services Pvt. Ltd. ("Guardian"), to aggressively expand in India, from approximately 50 retail locations primarily in Guardian pharmacies, to multiple channels, encompassing retail, e-commerce and distribution, among others. As part of this strategy, Guardian intends to make GNC products available in approximately 4,000 new retail outlets across India by 2020. The company expects 1,000 retail outlets to add GNC products to their offering this year. 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," said Ken Martindale, chief executive officer of GNC. "Guardian Healthcare Services is an established player in India's health and wellness industry and we believe the strength of our two company's 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 (ASSOCHAM) 2017 report, India's nutraceutical market is currently estimated to be $4B in 2017 and expected to growth to $10B in 2022 yielding a ~20% CAGR.
GNC Holdings, Inc. (NYSE: GNC) - Headquartered in Pittsburgh, PA - is a leading global specialty health, wellness and performance retailer.
GNC connects customers to their best selves by offering a premium assortment of heath, wellness and performance products, including protein, performance supplements, weight management supplements, vitamins, herbs and greens, wellness supplements, health and beauty, food and drink and other general merchandise. This assortment features proprietary GNC and nationally recognized third-party brands.
GNC's diversified, multi-channel business model generates revenue from product sales through company-owned retail stores, domestic and international franchise activities, third-party contract manufacturing, e-commerce and corporate partnerships. As of December 31, 2017, GNC had approximately 9,000 locations, of which approximately 6,700 retail locations are in the United States (including approximately 2,400 Rite Aid franchise store-within-a-store locations) and franchise operations in approximately 50 countries.
Guardian Healthcare Services Pvt. Ltd. is India's fastest growing chain of Health, Wellness and Beauty stores with over 50 stores in India. Staying true to its customer promise of being "100% Reliable", Guardian is committed to selling only 100% genuine medicines and OTC products. Its pharmacies enjoy the enviable position of being "The Chemists India trusts".
Guardian Healthcare aims to provide cure, care and convenience to its customers. Each of its pharmacies is manned by qualified and highly trained pharmacists who advise patients on their health and wellness.
Guardian has been honored as the "Most Admired Retailer" of the Year (2010) in Healthcare and Lifecare category at the India Retail Forum. The brand has also won the 'Reid & Taylor Retail Excellence Award' in Beauty, Wellness and Fitness Category and Images Beauty & Wellness Awards (2012) in the category of Beauty Products Retailer of the year.
Guardian Healthcare is the master franchisee for GNC in India, with exclusive distribution and marketing rights.
SOURCE GNC Holdings, Inc.
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