ZINZINO AB (PUBL): Zinzino announces the launch of Malaysia as next step in their global expansion
Zinzino is very proud to announce the launch of its business in Malaysia on June 3, 2021 as a strategic part of the company’s global expansion strategy.
After several years of preparing the launch of the Malaysian market and having carried out multiple country 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 health tech company Zinzino.
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.
“Strong growth provides economies of scale and increased profitability. This launch is a logical next step that creates great expectations for continued good profits going forward. Malaysia is a very interesting entrepreneurial market with one of Southeast Asia's most vibrant economies that offers a high growth potential for us”, says CEO Dag Bergheim Pettersen.
Malaysia is currently ranked as one of the top 10 most relevant markets for direct sales making this a very strategic launch for Zinzino; a global, direct selling company within test-based, scientifically proven nutrition. 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 Malaysia, Zinzino will be operating on 98 markets while keeping its focus on global expansion.
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Zinzino AB (publ.) is a global direct sales company that markets and sells test-based nutrition, skincare and life-style products. Zinzino owns the research unit BioActive Foods AS and production unit Faun Pharma AS. Zinzino is based in Gothenburg, Sweden with additional offices in Finland, Latvia, Norway, USA, Australia, Hong Kong and Malaysia. Zinzino is a public company and its shares are listed on Nasdaq First North Premier Growth Market.