NUTRAMEDICA, Inc. expects to generate $1 million in sales from its Philippine-made anti-hair loss products in the United States this year.
In a press briefing in Makati City on Tuesday, Nutramedica President and Chairman Sheila Mae M. Velilla said the company is initially targeting the Filipino community in the United States for its Novuhair herbal shampoo, conditioner, and scalp lotion, which were introduced in California in January.
“We officially launched Novuhair [in the US] last January 2017, and so far we’ve had very good acceptance,” she said.
Nutramedica expects US sales for the year to hit $1.05 million or P53.2 million. Within the next three years, the company is targeting to generate $7.7 million or P390 million in annual sales.
Nutramedica had tapped Asian Commodities Company (ACC) as its exclusive US distributor for Novuhair products.
However, Nutramedica will still handle product marketing in the US, setting aside $500,000 (around P25.3 million) for these efforts.
“We want to start with the Filipino communities first, because that’s the sure market. With the Filipino communities, we are sure to generate sales right away. We’re just playing it safe. Businesswise, I think this is the safer move,” Ms. Velilla said, noting there are over 1.1 million Filipinos living in metropolitan areas in the California such as Los Angeles and San Francisco.
Novuhair products are currently available in Asian or Filipino stores such as Seafood City, Island Pacific and Arko Foods International.
Nutramedica said the company hopes to enter the mainstream US market in the next two to three years. The company is looking for distributors as it hopes to expand into the US East Coast, Canada and the Middle East.
Ms. Velilla said there are no current plans to enter Asian markets, saying strong demand is seen in the United States and the Middle East,
Novuhair products, which are made of 19 natural ingredients such as ginger, ginseng, pennywort and Vitamin B5, are Halal and Philippine Food and Drug Administration (FDA) certified. — Chrizelle Anne D. So
