USA
Vitamin Shoppes slow turnaround
The retailer reported its Q1 results, with new CEO Sharon Leite talking up the positives from the first three months of the year, including positive private label performance, good growth from keto and on-the-go nutrition products, and opportunities with the US Navy Exchange Service Command (NEXCOM).
Total sales in the first quarter were 4.3% lower than for Q1 of the previous year, and came in at $283.3 million. However, adjusted EBITDA increased by 9% to $18.2 million.
Vitamin Shoppe’s private label brand also performed positively, with a relaunch of its BodyTech brand, and expansion of its Plant and True Athlete portfolio.
The company will also double “the amount of newness and innovation in 2019 compared to last year and look forward to future product launches of V-thrive, BodyTech Elite, the restage of our core Vitamin Shoppe brand, Fit Factor, our new weight management system, and so much more”, said Leite.
Vitamin Shoppe is also excited about its partnership with NEXCOM: The deal has Vitamin Shoppe launching pop-up stores in approximately 19 NEX stores initially, which include a broad selection of The Vitamin Shoppe own brand products, including Vitamin Shoppe, PLNT, ProBioCare, BodyTech and True Athlete.
For more on this, please click HERE.
Europe
Algatech launches new astaxanthin powder for vision and brain health applications
Israeli algae player Algatechnologies launched a micro-encapsulated natural astaxanthin powder formulated for vision and brain health at Vitafoods.
The new AstaPure-EyeQ ingredient, described as a proprietary microencapsulation form of natural astaxanthin, was developed in conjunction with the Italian startup Sphera Encapsulation.
Data from preclinical and clinical trials reportedly support the higher bioavailability of the ingredient compared to standard astaxanthin supplements, and to cross both the blood-brain and the blood-retina-barriers, making it more readily available to the brain and eyes.
For more on this, please click HERE.
Asia
Sports and personalization in India
Swiss sports nutrition brand Fast&Up is ramping up its personalization offerings in India, focusing on younger consumers who are largely driving the sector.
CEO Vijayaraghavan Venugopal told NutraIngredients-Asia that the company has experienced four-fold increases in annual turnover and expanded to 550 retail stores since entering India three years ago.
CMO Varun Khanna added that the company’s initial approach was to target nutrition for runners, but they have since expanded to engage people engaged in other activities and sports.
“We started catering to those playing cricket, and soon enough, other sports,” said Khanna. “Eventually, we targeted those who work out regularly at the gym, or attend classes like zumba and yoga. Regardless of the level of activity, we want to have something for everyone.”
The company is also offering personalized nutrition by engaging healthcare professionals, dietitians and nutritionists at the retail stores that carry its products, so customers can receive professional advice and recommendations based on their needs and preferences.
“This is something that's really high up on our list. It could be implemented as soon as the next three to six months, or at least, within the next year,” said Khanna, adding that this would be the best way to ensure a high degree of personalisation on an individual level.
