*NEWS: Nutraceutical Company Expands International Partnership
ChromaDex, an Irvine company that pivoted to creating innovative nutraceuticals, announced today the expansion of its partnership with A.S. Watson Group, as well as plans to launch its flagship product, Tru Niagen, in Watsons Turkey, later this year.
Nutraceuticals are food, beverages and supplements touted as containing “health-giving additives,” with the claims of medicinal benefit. The nutraceutical market globally was worth $230 billion in 2016, according to news reports.
A.S. Watson touts itself as the world’s largest international health and beauty retailer. It reportedly is one of the leading beauty and self-care chain stores in Turkey, with more than 340 stores in over 75 cities.
“We are very fortunate to be working with Watsons and are quite happy with the success of Tru Niagen in Hong Kong,” ChromaDex CEO Robert Fried said, in the press release issued today. “We look forward to similar successes in other territories.”
As part of the expanded agreement, Watsons is committed to growing the Tru Niagen market in Hong Kong and Macau through mid-September 2021, according to the release.
Tru Niagen is currently available in more than 340 Watsons stores among Hong Kong, Macau and Singapore.
Aging and millennial consumers (between the age of 18 and 35) make up nearly half the U.S. population and are a motivating force for research and innovation for entrepreneurs and companies in the nutraceuticals market, according to news reports.
ChromaDex is in the geroscience realm, which targets the relationship between aging and age-related disease. It’s not a startup since it launched in 1999. But it’s a startup in terms of being a finished products company. It started as a lab, pivoted to supplying ingredients to other companies and more recently evolved into bringing its own products to market.