Vitamin Shoppe, Inc. Announces Opening Of First Three Stores In Guatemala
SECAUCUS, N.J., Jan. 12, 2016 /PRNewswire/ -- The Vitamin Shoppe®, a multi-channel specialty retailer and manufacturer of nutritional products, today, along with Grupo Unipharm, is pleased to announce the opening of the first three Vitamin Shoppe franchise stores in the Republic of Guatemala.
The Vitamin Shoppe's franchise partner, Grupo Unipharm, was founded in Switzerland over 50 years ago. The company is a multi-national pharmaceutical laboratory based in Europe with deep roots in Latin America, distributing pharmaceutical products in more 10 countries throughout the region. The franchise agreement between the companies calls for the opening of 15 Vitamin Shoppe stores over the next ten years.
Mike Erichsen, Chief Executive Officer of Grupo Unipharm, commented, "We are very excited to be partnering with the Vitamin Shoppe, a leading health and wellness retailer with over 700 stores in the United States, to bring nutritional products including; vitamins, minerals and supplement to Guatemala. The country has a young and fast growing population making this an ideal time to open stores. As the country continues to grow, we will be there to meet their health and wellness needs."
On January 12, 2016 the Vitamin Shoppe and Unipharm celebrated the grand opening of 3 stores in Guatemala City, the country's capital and largest city. The stores, which are sited in both strip malls and stand-alone locations, offer Guatemalan consumers a curated selection of Vitamin Shoppe brand and other leading third-party brand products. Additionally, the stores go beyond just selling products and include a nutrition room, and an exercise room where instructor-led classes can be held.
Further commenting on the new stores, Musab Balbale, Vice President, International and Business Development for the Vitamin Shoppe stated, "We are delighted to continue expanding the Vitamin Shoppe brand internationally through franchising stores and working with partners such as Unipharm."
About the Vitamin Shoppe, Inc. (NYSE:VSI)
Vitamin Shoppe is a multi-channel specialty retailer and contract manufacturer of nutritional products based in Secaucus, New Jersey. In its stores and on its websites, the Company carries one of the most comprehensive retail assortments in the industry, including vitamins, minerals, specialty supplements, herbs, sports nutrition, homeopathic remedies, green living products, and beauty aids. In addition to offering products from approximately 850 national brands, the Vitamin Shoppe also carries products under The Vitamin Shoppe®, BodyTech®, True Athlete®, MyTrition®, plnt™, ProBioCare™, Next Step™, Betancourt Nutrition and Nutri-Force Sports® brands. The Vitamin Shoppe conducts business through more than 700 company-operated retail stores under The Vitamin Shoppe, Super Supplements and Vitapath retail banners, and primarily through its website.
SOURCE The Vitamin Shoppe
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