Nutric to Grow Through Re-branding, Expansion

Nutric to Grow Through Rebranding, Expansion
NUTRIC - Malay Mail - February 03. 2017

KUALA LUMPUR — Nutric Group, a leader in regenerative health supplements, has been in Asian market for 15 years now and nothing is stopping the company in its stride.

Speaking to Malay Mail in an exclusive interview, group chairman Lim Chee Wei said it was not merely focusing on profit and revenue but also on managing growth.

Since its inception in 2001, Nutric has been a leader in its game — being one of the first to utilise electronic distribution channel systems in the Asean region. It then expanded into Indonesia and Singapore within a year.

In the same year, the group launched its flagship anti-aging product Revolutic BioSpray and then unveiled their Revolutic BioSpray Plus in 2003.

From 2004 till 2015, Nutric expanded its reach to various countries in the region including Thailand, Philippines, Thailand, Bangladesh as well as China.

Lim said with its business growing year-on-year, recording a whopping 33% jump in revenue last year, the focus now is on managing Nutric’s growth in each of its market.

“The lowest growth recorded last year was in Phillippines at 12%. This was natural growth and although we are happy with it, we want to see managed growth,” 

the group chairman said.

Lim said the group’s mission is not to see a sudden spike in growth as it strategises to slow down performance in some markets.

“There are times we under supply our products to certain markets so we can manage the performance there, as I believe that we must be able to have a back-end management system that is supportive of continuous growth.”

He said their Bangladesh operations saw a 20% increase in revenue last year, comprising 75% of its global market share.

“Bangladesh will be our gateway into South Asia as we see a huge potential in the market there.”

Lim said moving forward after their success last year, the group is expanding in all areas — human capital, product diversity and target demographics.

“We need to sustain our growth and we are looking to achieve that by expanding our workforce in our worldwide operations by 50%.

“It is the people that can help the company move forward and we are rolling out a hiring spree this year,” he added.

When the company penetrated the market with its products, many were sceptical as the then 30-year-old Lim was not the exact model for an anti-aging or regenerative health product.

“People were not convinced as the the anti-aging concept was new in the market but we overturned the perception through word of mouth from customers who have written numerous reviews and boosted customers confidence in our products,” Lim said.

For 2017, however, Lim said there was a need to change 

Nutric’s business strategy to stay ahead of modern times thus leading the group to rebrand and diversifying 

their products.

He said the revamp on product packaging was in line with the company’s rebranding to reach out to the younger demographics without neglecting its current customer base aged between 45 to 60 years old.

Lim said regenerative health products are not meant to be consumed and used by those who have aged but it acts as a supplement for those who want to age gracefully.

“We are looking at rolling out products not only for those in their 20s but also for children,” he said.

At the age between 35 and 40, most customers are young parents who will put their kids health first, thus leaving Nutric to capture the gap in that market.

“This approach will start gradually and we have a goal to not alienate our existing customer base as we have our loyal customers who have trusted our brand over the years.”

Lim said the repackaging of their flagship products was in line with its new strategy to entice younger customers without neglecting its current customers.

He said customers can look forward to the launch of Nutric’s new products in the second half of the year.

Published on Malay Mail February 03, 2017.