Herbalife optimistic about great potential in China

China is expected to become the No 1 market globally for Herbalife, a Los Angeles-based health and wellness company, in five to seven years, said a senior company executive in a media interview in Shanghai on Friday.

"We're upbeat about the great potential in China, not only due to the country's population base. I do believe that China holds a lot of advantages in terms of its forward-looking policies, entrepreneurial spirit and macroeconomic climate," said Stephan Gratziani, president of Herbalife, which has been active in the China market for more than two decades.

"Also, we noticed that Chinese consumers are paying increasing attention to healthy diets and lifestyles," he said, adding that India, the US, and Mexico are currently the company's top three markets in terms of sales.

Based in Shanghai, Herbalife's first product innovation center in the world was opened in 2020. With an investment of 160 million yuan ($22 million), the facility realized one-stop product solutions in China.

The product innovation center is equipped with six laboratories and one innovation and experience center. It aimed to accelerate transforming cutting-edge achievements in the nutritional science field into health products for the market. It also aimed to strengthen the company's innovative research and development capabilities, said Gratziani.

"Although we're already the largest company in terms of weight control and weight loss in China, we understand that outside of weight control, there are still huge opportunities, as health and wellness cover so much," said Gratziani, adding that the company is looking at having a portfolio that expands to cover diversified areas.

"Also, when it comes to manufacturing, our goal is not only to manufacture like we currently do for the China market but also to be exporting," he said.