The Vitamin Shoppe expanded into Asia through a partnership agreement with Hanoi-based Kim Lien Group, which will open and operate The Vitamin Shoppe stores in the new market and launch wholesale distribution of the company’s owned brands in Vietnam.
The first store under the partnership agreement opened last month, according to a Jan. 25 announcement. The bi-level, 1,500 square foot store at 58B Ba Trieu Street in the Hoan Kiem district offers a wide assortment of vitamins, supplements, sports nutrition, and other health and wellness products under The Vitamin Shoppe’s proprietary brands, including Vthrive The Vitamin Shoppe, BodyTech, fitfactor Weight Management System, plant, and ProBioCare.
A second Hanoi location will open soon at 49 Phuong Mai Street in the Dong Da district, with additional stores to be announced. A wholesale distribution strategy for the retailer’s owned brands will launch in the coming months, with a focus on pharmacies, gyms, and spas throughout Vietnam.
This agreement marks the first country license agreement in Asia for The Vitamin Shoppe, which operates in the Americas as well. Country license agreements include 8 stores in Panama, 10 stores in Guatemala, and three stores in Paraguay.
“Our partners at Kim Lien Group have an exceptional understanding of the Vietnam market and the knowledge and experience to make The Vitamin Shoppe a trusted destination for wellness solutions in Vietnam, as it is throughout the United States,” said The Vitamin Shoppe CEO Sharon Leite in a prepared statement. “We continue to see additional opportunities with international partners and plan to expand The Vitamin Shoppe into new growth markets.”
Founded in 1994, Kim Lien Group operates a group of automotive, restaurant, and hotel businesses in Vietnam. Vice-Chairman Anh Hoang said in a statement on the opening that “the partnership journey” started when he went to a store in Boston to find products for his mother Madame Lien, chairwoman of Kim Lien Group.
“I was impressed with the customer experience, the knowledge of the [employees] and the product assortment in the store. Since then, Kim Lien Group realized that the Vietnam market could benefit tremendously from the products and services of The Vitamin Shoppe,” Hoang said. “During this time, Vietnam was having serious issues with fake supplements from unknown sources distributed here. We wanted to end that fear and bring a trusted, high-quality brand from the United States to Vietnam, so that consumers can confidently shop for health and wellness supplements here.”
