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NGS cement Walmart expansion

31 January 2023 06:30

Nutritional Growth Solutions have secured ranging of its new Happy Tummies supplement in Walmart, following on from the successes of its Kidz Protein products across 409 stores and the North American retail giant’s online platform.

It is another milestone deal, further cementing NGS presence with the world’s largest corporation by revenue.

A unique blend of prebiotic, probiotic and protein, the Happy Tummies supplement was developed alongside Walmart and its comprehensive market analysis to develop the digestive support product.

Overall sales through Walmart have already doubled through last quarter, contributing to a 31.3 per cent increase of cash receipts to beyond $1.1 million Australian dollars, with sales velocity 74 per cent over initial expectations of the joint business plan.

With over 3500 Walmart stores in the US, there is a colossal growth opportunity for NGS, and discussions are already advancing with other retailers as they take note of success not only at Walmart, but also Amazon, where sales have grown to the tune of 32 per cent compared to the fourth quarter of 2021.

The company said last year was monumental for the company and its expanded distribution network was a major milestone, standing as a demonstration of growing demand for clinically proven supplements.

“Our new Happy Tummies supplement product, in addition to our existing Kidz Protein products, will now be available to even more consumers in the US,” chief executive and managing director Liron Fendell said.

“This on-shelf presence in Walmart also paves the way for NGS to be in store with more retailers across the US, and having optimised our US manufacturing facility to service these expanded channels as well as our increasing online sales, we look forward to continuing to grow our US business.

“NGS also continued to receive further scientific validation for its products, having received positive one-year trial results for Healthy Heights grow daily boys 10+ formula with the results published in peer-reviewed international pediatric research journal, Hormone Research in Pediatrics.”

While focused on the US, NGS has also entered into an exclusive distribution agreement with Pharmabest for Poland, providing the lofty potential of multiple additional revenue streams flowing in from the European markets.

NGS’ Australian Stock Exchange-listed share price is currently trading at 4.6c (6.40 am UTC+ 8 hours).

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