Nutritional Growth Solutions Ltd (ASX:NGS) (“NGS”, or the “Company”), a leading global nutrition company dedicated to creating clinically proven products that support growth and development in children, is thrilled to announce significant advancements in its retail partnerships.
Key Highlights:
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Walmart Expansion: NGS is proud to announce that its innovative product, Happy Tummies®, will now be available in 850 Walmart stores. This marks an increase of 55 stores from the initially expected 795, showcasing Walmart's growing confidence in the product (refer ASX Release – 18 September 2023).
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CVS Partnership: The onboarding process with CVS has been successfully completed. Customers can anticipate seeing Happy Tummies® on CVS shelves by Q1 CY2024, prominently featured in a multi-brand “Children’s Nutrition” display.
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iHerb Collaboration: NGS has finalized its onboarding with iHerb. An initial order valued at approximately US$10,000 has been placed, with Healthy Heights® products set to be available on iHerb’s marketplaces in Q4 CY2023. Furthermore, iHerb fulfillment centers will stock three cases of each item in NGS’ portfolio. Initial sales will be closely monitored to determine forecasted sales velocity and guide replenishment strategies.
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Strategic Restructuring: As part of its ongoing commitment to excellence, NGS continues to streamline its operations through strategic restructuring. The Company is excited to welcome Rob Valerio as its new fractional CFO based in the US.
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Brand Expansion: The expansion of the Healthy Heights® brand into additional markets is underway. This move is anticipated to foster further discussions and collaborations with additional retailers, amplifying the brand's reach and impact.
NGS CEO, Stephen Turner, Commented: “We are thrilled to see Walmart’s strong commitment to NGS by expanding the distribution of our new product, Happy Tummies®, to a total of 850 stores. This is a significant milestone for NGS and a testament to the increasing demand for our products, as we continue to see Healthy Heights® grow along with Walmart’s help.”
“Additionally, NGS recently successfully completed the onboarding process with both iHerb and CVS, representing strong steps towards a broader market reach. Products will be delivered to iHerb’s distribution centre and become available on iHerb’s marketplaces from Q4 CY2023. We are expecting sales with iHerb to be significant and will utilize tactics and strategies to push for a goal of $1 million over 12 months.”
“We’re also pleased to welcome Rob Valerio as our fractional CFO, further strengthening our team on the ground in the US. NGS would like to express its sincere appreciation to Yossi Nizhar for his valuable contributions to date.”
“I would like to thank shareholders for their support to date, and NGS looks forward to providing further updates before the end of the year.”
About us:
Nutritional Growth Solutions is a global nutritional health company focused on the well-being of children. NGS develops, produces and sells clinically tested nutritional supplement formulae for children following 20 years of medical research into pediatric nutrition at Schneider Children’s Medical Centre, Israel’s largest pediatric hospital. The nutritional supplements market has experienced tremendous growth in recent years, but most attention has been focused on adult users and children under three years of age. The three to twelve-year-old consumers represent a larger market opportunity and NGS is highly differentiated from its competitors with clinically tested products and an expanding product portfolio to capture this market opportunity.
Contact details:
Chloe Hayes
chloe@janemorganmanagement.com.au
