It officially launched the store at Causeway Bay, Hong Kong, last month.
Elsewhere in India, its products have been available on Mitraa Wellness for about two months. This is the retail and distribution arm of exclusive franchisee, JVKM Consultants India Pvt. Ltd.
There are also plans to open LAC-branded stores in India.
The LAC brand is owned by LAC Global, a specialty retailer of nutritional supplements, vitamins, minerals, herbal supplements, and other specialty supplements.
Most of its retail outlets are in Singapore, Malaysia, the Philippines and Taiwan. There are about 250 LAC-branded stores worldwide.
It also sells its products via third-party e-commerce platforms, pharmacies and supermarket chains, as in the case of Sri Lanka.
One of LAC’s flagship products is LAC MASQUELIER’S® French Pine Bark Extract for supporting cellular health, blood circulation and overall vitality. Its portfolio also spans anti-ageing, immunity and daily nutritional support.
Why these markets, and where else?
Hong Kong was chosen for its latest expansion due to its strong wellness culture and receptivity to international brands, while India has a booming nutraceutical sector with a rich tradition of natural and holistic healing.
“Firstly, Hong Kong is a particularly important market for us. It’s a key regional hub with a highly sophisticated, well-informed consumer base that places strong emphasis on health, longevity and quality of life,” Cynthia Poa, group CEO for LAC, said in response to NutraIngredients’ queries.
“The city’s strong wellness culture, combined with its openness to innovation and international brands, makes it an ideal environment for us to establish a physical presence and engage directly with consumers.”
Rather than following short-term trends, she noticed that Hong Kong consumers actively look for premium supplements that are convenient, safe, and effective.
At the store’s official store, the brand also invited celebrity and host Janis Chan, who spoke about her experience using LAC NMN. Nicotinamide mononucleotide (NMN) is also one of the hottest health supplement categories in Hong Kong.
India, on the other hand, has a fast-growing nutraceutical market, with consumer packaged goods (CPG) giants like Dabur India and Marico entering the space, especially via the digital-first or e-commerce channel.
“Through our partnership with JVKM Consultants India Pvt. Ltd., operating as Mitraa Wellness, we’re able to amplify LAC’s approach of harnessing the best of eastern wisdom and western technology with local wellness knowledge, to continue to create quality and effective solutions.”
The collaboration with JVKM Consultants India also coincided with the launch of the Singapore Enterprise Centre (SEC) at Bengaluru by the Singapore Business Federation last November.
The centre is aimed at providing a local base for Singapore’s small and medium-sized enterprises to enter the Indian market, explore synergies and create partnerships with local companies.
“The signing of our MOU coincided with the launch of the Singapore Business Federation’s Singapore Enterprise Centre in India, which is aimed at strengthening bilateral ties and supporting Singapore brands looking to grow in the market.”
The company is on track to expand in new markets with strong growth potential, including South America, the Middle East and Africa.
Target consumers
Urban consumers juggling busy lifestyles and increasingly mindful of ageing well, staying energised, and maintaining overall wellness are the key target consumers in both markets.
“These people tend to be professionals and families in their late 20s to 45 who are increasingly willing to invest in their health and value quality, efficacy and credibility when choosing wellness products,” Poa said.
