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| Saturday, 22 October 2022, 09:00 HKT/SGT | |
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Source: YOUVIT | |
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SINGAPORE, Oct 22, 2022 - (ACN Newswire) - YOUVIT, a Southeast Asia-based new generation vitamin brand is proud to announce that it has raised US$ 6 million in a growth funding round. The amount raised will be utilized to fuel the expansion plans as YOUVIT aims to become the leading vitamin brand for urban millennials across the region. With Unilever Ventures as the lead investor of its latest Series B funding round, round, along with participation from existing investor DSG Consumer Partners and several other new investors, YOUVIT is well positioned to achieve its goals.
YOUVIT is on a mission to revolutionize the vitamin category by making quality vitamin products in innovative formats accessible to urban millennials. Their first line of vitamin gummies took the Indonesian market by storm, propelling YOUVIT to become the country's #1 gummy vitamin brand.
With the fresh funding, YOUVIT now plans to expand its product offering and launch new formats, while investing in team expansion. The company plans to double-down on its unique omnichannel distribution model with a presence in more than 20,000 modern retail stores and strong traction through online channels and its DTC platform at www.youvit.co.id. The expansion plan includes the launch of the full product range in Malaysia and ramping up across Southeast Asia.
"With its modern and innovative product formats and an omnichannel approach to distribution, YOUVIT is poised to disrupt the large vitamins and supplements market in Southeast Asia. We look forward to partnering with Wouter and Maarten as they build out the wellness category in this exciting market," said Pawan Chaturvedi, Partner at Unilever Ventures, adding that "YOUVIT also marks our first investment in the vibrant start-up ecosystem of Southeast Asia, a market which offers us immense opportunities to partner with visionary founders".
Preventative health and vitamins are top of mind across emerging markets. The ASEAN supplements market size is expected to touch US$ 10.6 billion by 2026, fueled by increasing health consciousness among the urban population. The pandemic accelerated a lifestyle change towards preventative health and millennials are often at the forefront of this shift. According to a report by Inventure Knowledge, 52% of Indonesians are consuming more vitamins since the pandemic. Furthermore, lockdowns and movement control measures have triggered a rapid shift towards online and direct-to-consumer (DTC) sales channels.
The vision behind YOUVIT is that the vitamin category is rusty and old-fashioned, while there is a large market for quality products that specifically target millennials from the emerging middle classes in growth markets such as Indonesia. "Customers deserve a better experience. We aim to improve the health and well-being of hundreds of millions of customers and as a result grow into the number one vitamin brand for urban millennials in Southeast Asia," says Wouter van der Kolk, Co-Founder and CEO at YOUVIT.
YOUVIT is uniquely positioned to leverage the changes happening in the market. After launching its first products in 2017, it quickly became the product of choice for millions of urban millennials, 70% of which are female. Headed by co-founders Wouter van der Kolk and Maarten Vrouenraets, YOUVIT has breathed new life into the supplement category with its innovative line of one-a-day gummy vitamins. The products are formulated with health-conscious millennials in mind and tailored to local tastes and needs such as Halal certification in Indonesia and Malaysia, vitamin dosages based on the local recommended intake values and local ingredients like curcuma. The gummy vitamins come packed with nutrients and minerals to boost immune function, brain development, energy, beauty and overall health of adults and children. It is tasty and healthy and loaded with natural fruit flavors giving it a new twist. From its interesting marketing to convenient packaging, YOUVIT offers a welcome alternative to more traditional, medicinal vitamin pill brands.
About YOUVIT
YOUVIT was started out of a passion for building consumer health ventures that serve consumers across emerging Asia. After observing the severe lack of affordable, high-quality supplements and the significant deficiencies in the average diet, the founders of YOUVIT spent 18 months working with the U.S.-based product experts and labs to formulate a deliciously tasting functional vitamin supplement in gummy format, specifically tailored towards the dietary requirements and habits of the Southeast Asian consumer. The brand launched its first vitamin products in 2017 under the YOUVIT brand. Its products are currently available at over 20,000 points of sale, through the brands official online stores on all major e-commerce platforms as well as its own DTC platform at www.youvit.co.id.
Since its inception, the company has been providing frontline workers, hospital staff and underprivileged people in society with vitamins to boost their immune system. An example of such a cooperation is its close teamwork with the Peduli Anak Foundation in Indonesia, which is committed to improving the lives of former street children. YOUVIT has donated tens of thousands of doses of YOUVIT vitamins in order to supports the Foundation's cause.
Topic: Press release summary
Source: YOUVIT
Sectors: Daily Finance, Funds & Equities
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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