The Vitamin Shoppe is to expand via franchising for the first time in its history as it looks to pursue a new growth strategy.
The specialty vitamin and nutritional products retailer announced that, for the first time in its 44-year history, it will partner with business owners to operate franchise stores across the US. The first franchised Vitamin Shoppe stores are expected to open later this year. The move to franchise comes amid consumers’ increase interest in wellness amid the pandemic.
“This new growth strategy is a capital-efficient way to grow our retail footprint in a favourable real estate market, while empowering our franchise partners to create dynamic, locally-owned businesses,” stated Sharon Leite, CEO. “With the events of the past year, consumers have become more invested in their health and well-being, as reflected in The Vitamin Shoppe’s performance. We are tapping into this industry’s strong runway for growth by partnering with franchisees who share our passion for quality, innovation, and the health of their customers and communities.”
