Genufood Opens First Retail Location in Singapore
Genufood Energy Enzymes Corp. (OTCQB: GFOO), a leading distributor
of pharmaceutical-grade enzyme supplement products for both humans and
animals, recently announced that its first retail store opened in the
Suntec City Mall in Singapore on July 14, 2013. While the company’s
existing business has been focused on wholesale distribution, the move
into the direct retail space could help improve margins and expand its
footprint globally.
Investors in companies like supplement manufacturers like
Herbalife Ltd. (NYSE: HLF) and supplement retailers like GNC Holdings
Inc. (NYSE: GNC) may want to take a closer look at the stock given these
recent developments. With the prospect of improved margins and
revenues, management is positioning the company to unlock significant
long-term value for its shareholders as it expands into the exciting new
retail frontier.
The dietary supplement industry is expected to be the world’s
fastest growing market during 2012 to 2017, according to Research and
Markets. While the organization expects North America’s market to
account for 39.2% of the total market, the Asia-Pacific region is
expected to experience the fastest growth rates and reach 30.4% of the
market by 2017. As a result, investors may want to give further thought
to companies operating in the region.
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Read the complete press release here:
Genufood Energy Enzymes Corp, or GEEC, (GFOO), a leading distributor
of pharmaceutical-grade enzyme supplement products suitable for both
human and animal consumption, announced the opening of the first retail
store by its wholly owned subsidiary Genufood Enzymes (S) Pte Ltd.
The store formally opened on July 14, 2013 in the Suntec City Mall in
Singapore. The move into the direct retail business complements the
Company’s existing distribution networks and is designed to create brand
awareness of GEEC’s ProCellax and ProAnilax enzyme supplements in the
Singapore market. The store is the first of ten GEEC Retail Chain Stores
planned by the Company.
Oliver Lin Yi Lung, President and CEO, stated, “Our products have
been approved for sale in Taiwan, Sri Lanka and Singapore. The opening
of this store is a major development in our plan to capture market share
in Singapore. The Singapore market presents a significant opportunity
for GEEC and we could not be happier with the launch.”
For more information, please visit the company website at http://geecenzymes.com/index.aspx
Forward-Looking Statements
Certain statements made by the Company and its management on its
behalf in this release and other periodic, oral and written statements,
regarding the Company operating performance, events or developments that
the Company believes or expects to occur in the future, including those
that discuss anticipated financial results, strategies, goals, outlook
or other non-historical matters, or which relate to future sales,
earnings, expectations, growth of the Company or of the market for its
products and services, or general belief in the Company’s expectations
of future operating results are “forward looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995. All
such forward-looking statements are subject to risks and uncertainties,
including but not limited to product demand, market and customer
acceptance, competition, pricing, working capital considerations, and as
otherwise discussed in the Company’s SEC filings. Such forward-looking
statements are subject to change at any time, and the Company’s actual
results may differ materially from anticipated results. The Company
undertakes no obligation to update or revise any of such statements to
reflect subsequent events or circumstances.
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