GNC Announces Brazil Expansion with New Partner Banco De Franquias
Source: Nasdaq GlobeNewswire / 03 Sep 2019 07:02:08 America/New_York
PITTSBURGH, Sept. 03, 2019 (GLOBE NEWSWIRE) -- GNC Holdings Inc., a leading global health and wellness brand, today announced its partnership with BFG Brasil Comercial de Vitaminas LTDA, a professional retail operator, to help expand the company’s presence in Brazil. Specializing in the operation and management of major retail brands in Brazil, the partnership will allow GNC to grow its franchise presence outside the United States and reach more consumers in Latin America.
The consumer health market in Brazil continues to remain on a positive growth trajectory, with consistent growth in the vitamins and dietary supplements categories. In Brazil, the market for nutritional supplements is an estimated $3 billion USD.
“With the largest population in Latin America, Brazil has been a key target market for GNC,” said Carl Seletz, Chief Global Officer of GNC. “This partnership will allow GNC to seamlessly and effectively reach the consumer market, providing an opportunity for multi-channel growth.”
The management organization backing BFG Brasil is Banco de Franquias, which also includes the entrepreneurs operating GNC in Argentina and Uruguay. With a vast knowledge of the Brazilian market and over 30 years of experience in retail management, the partners are specialists in developing international brands in Brazil and have a proven track record in business management, retail, e-commerce, distribution, and marketing. Founded in 2014, Banco de Franquias is a professional retail operator in Brazil, specializing in the development and management of international retail brands and stores. Other brands partnered with Banco de Franquias include Alsea, P.F. Chang’s, and KFC.
“We are thrilled to be partnering with GNC to help bring Brazilian consumers high quality products in the vitamin and supplement sector,” said Guilherme Soares, Head of BFG Brasil. “We help brands operate with ease and efficiency, allowing GNC to place its primary focus on its continued global expansion.”
GNC Holdings, Inc. (NYSE: GNC) - is a global health and wellness brand that helps people live well. The company is known and trusted for quality performance and nutritional supplements, and its broad assortment features innovative private-label products as well as nationally recognized third-party brands, many of which are exclusive to GNC.
GNC’s diversified, omni-channel business model has global reach and a well-recognized, trusted brand that provides customers with excellent service, product knowledge and solutions. The company serves consumers worldwide through company-owned retail locations, domestic and international franchise activities, and e-commerce. GNC also has exceptional innovation and product development capabilities and generates revenue through corporate partnerships. As of June 30, 2019, GNC had approximately 8,000 locations, of which approximately 5,900 retail locations are in the United States (including approximately 2,000 Rite Aid licensed store-within-a-store locations) and the remainder are locations in approximately 50 countries.
About Banco de Franquias:
Banco de Franquias is a professional retail operator in Brazil, specialized in running and developing international retail brands and stores.
The company’s expertise is the development, operation and management of retail stores carried out by our professional field team and our Shared Service Center (SSC), a business center working for the improvement of operations with the newest technology available, ensuring efficiency, control, transparency, and better performance.
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