UPDATE: GNC Announces Opening of First Retail Store in China; 25 Planned Over Next 12 Months
Expands GNC's marketing footprint in the world's largest consumer market
Jul 22, 2013
PITTSBURGH, July 22, 2013 /PRNewswire/ -- GNC Holdings, Inc. (NYSE: GNC), a leading global retailer of health, wellness and sports nutrition products, today announced that it is expanding its retail presence in China by opening the first stand-alone GNC store in Shanghai. The move complements GNC's existing marketing footprint in the world's largest consumer market. GNC plans on opening an additional 25 locations in China within the next 12 months.
Joseph Fortunato, GNC's Chairman, President & Chief Executive Officer, said, "In only two years, the GNC brand has developed strong acceptance among Chinese consumers. GNC will continue to expand our retail store presence in this dynamic and fast-growing market, and we are excited about finding new opportunities to address the needs of China's many health & wellness consumers with new and innovative products."
The first stand-alone location will open on July 23rd in Raffles City, one of Shanghai's prime retail and office space locations. Strategically located opposite the historic People's Square and within walking distance of Nanjing Road and the Shanghai Municipal Government Office, it is home to leading international fashion brands and a fitness center along with upscale dining and entertainment venues.
GNC has been selling its Made in the USA products in China since 2011 when it opened its Shanghai-based office and distribution center. GNC currently has over 60 store within a store locations within 8 different major grocery, convenience and health and wellness chains in China, including Ole, City Super, Sam's Club and Watson's. GNC brand products are also sold on the internet through GNC licensed partners on e-commerce sites that include Tmall, Amazon and 360buy. GNC is a highly recognized and sought after US brand online and to date is ranked #1 in supplement sales on Amazon and #3 on 360buy.
As of March 31, 2013, GNC has more than 8,200 locations, of which more than 6,200 retail locations are in the United States (including 958 franchise and 2,190 Rite Aid franchise store-within-a-store locations) and franchise operations in 55 countries (including distribution centers where retail sales are made). The Company – which is dedicated to helping consumers Live Well – has a diversified, multi-channel business model and derives revenue from product sales through company-owned retail stores, domestic and international franchise activities, third party contract manufacturing, e-commerce and corporate partnerships. GNC's broad and deep product mix, which is focused on high-margin, premium, value-added nutritional products, is sold under GNC proprietary brands, including Mega Men®, Ultra Mega®, Total Lean™, Pro Performance®, Pro Performance® AMP, Beyond Raw®, and under nationally recognized third party brands.
SOURCE GNC Holdings, Inc.