UK health goods retailer Holland & Barrett is negotiating with a potential partner in India as its Asian retail rollout broadens.
Holland & Barrett expects the Asian expansion to help boost its sales to £1 billion in annual sales by 2020 – turnover rose 12 per cent during the last year.
Owned by US health group NBTY, the company opened 56 stores this year taking its network to 1071. It has also established two shopfronts on Alibaba’s Tmall.com in China.
With retail stores in Singapore, Malta, China (34) and Kuwait already, the company changed its name to Holland & Barrett International earlier this year reflecting its growing global reach, but the majority of its shops – 744 – are in the UK.
The company has not yet revealed details of its India plan, other than to confirm negotiations are underway with a prospective partner and the first store is scheduled to open early in 2016.
Holland & Barrett says the consumer shift towards healthy eating and greater awareness of food allergies and intolerances is sustaining growth.
“This year’s performance – especially our rapid growth overseas – underlines the fact that rising consumer interest in healthier living and wellness is by no means a UK or even eastern phenomenon,” says CEO Peter Aldis.
“Our experience is that the British heritage behind our brand gives us significant advantage in our sector, and overseas consumers, such as those in China, seem to prefer the quality and reliability of our products compared with local competitors,” said Aldis.
