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2021-09-09

ZINZINO AB (PUBL): Zinzino announces launch of Taiwan as next step in the global expansion

The global, direct selling company within test-based, scientifically proven nutrition is very proud to announce the launch of its business in Taiwan on September 9, 2021 as a strategic part of the company's mission towards global expansion.

After several years of preparing the launch of the Taiwan market and having carried out multiple market establishment processes in recent years, Zinzino has learned the importance of ensuring thorough preparatory work and adapting to the local conditions in each market.

Profitable growth is an important business strategy for the e-commerce-based company. During 2020 the company sales target was exceeded showing excellent sales growth and a strong EBITA performance. Overall sales grew to 1.139 billion SEK from 771 million in 2019.

"We are very pleased with our consistent, strong growth profile as it provides us with economies of scale and increased profitability. This latest launch is yet another logical next step to maintain continued good profits moving forward. Taiwan is a dynamic, mature market for this industry with a substantial part of the population already familiar with and involved in direct sales", says CEO Dag Bergheim Pettersen.

Taiwan is currently ranked number 10 in the world in terms of total sales from direct selling, making this a very financially sound, strategic launch for Zinzino. The company has high growth ambitions and is expecting to reach 1 million customers by the year 2025 and 20 million by 2035.  With the launch in Taiwan, Zinzino will be operating in close to 100 markets while keeping its focus on global expansion.

 

For more information:

Dag Bergheim Pettersen CEO Zinzino +47 (0) 932 25 700, zinzino.com (http://www.zinzino.com)
Fredrik Nielsen CFO Zinzino +46 707 900 174, fredrik.nielsen@zinzino.com

Pictures for publication free of charge:

Marcus Tollbom +46 (0) 70 190 03 12, marcus.tollblom@zinzino.com

Certified Adviser:

Erik Penser Bank Aktiebolag, +46 (0) 8 463 83 00, email: certifiedadviser@penser.se

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