Herbalife bullish on China market
The consultancy said the rapid growth of the nutrition market is creating unprecedented opportunities and challenges for the industry and companies need to make preparations in areas such as product development, branding, sales channels and international collaboration.
Herbalife has said it will invest 700 million yuan to expand its business in the country and help address public policy challenges such as obesity.
The company will also seek cooperation with four Chinese universities in the future and fund research covering direct sales, sourcing of raw materials, production quality, health and growing obesity problems. Each of the universities is expected to play an important role in Herbalife's development.
In addition to investment, Herbalife has built partnerships with leading businesses in the nation. It entered into an agreement with Tasly, a Chinese pharmaceutical company, in 2017.
The partners will team up to improve the health of people in the country and around the world, cooperating on product development, manufacturing, and increased access to local and global networks and customers.
