Canada's leading manufacturer of natural health products, Factors Group of Nutritional Companies Inc. signed a licensing agreement with China's Tongrentang International (TRT) of China here on Tuesday to distribute its flagship Natural Factors brand of natural health products in China.
The agreement gives TRT, a Beijing-based China's well-established healthcare company founded in 1669, exclusive rights to distribute both online and in bricks and mortar stores and will further expand TRT's cross-border e-commerce market.
According to Michael Hobson, President and CEO of Factors Group, the move is a strategic step in its continuing expansion into the global export market. "China is one of the world's largest and fastest-growing economies, one where demand for quality natural health products is exploding. This is a win-win opportunity to partner with a respected company that shares our dedication to providing consumers with safe, effective products that can make a positive difference in their lives," he said at the signing ceremony in its head office in Cuquitlam, which is a suburb city of Greater Vancouver.
Guangfei Ji, Chairman and CEO of TRT, shares Hobson's view. He said at the signing ceremony that they were excited to introduce Natural Factors to Chinese consumers as their leading brand of nutritional supplements. "Our cross-border e-commerce platform along with our network of local pharmacies across China ensures our customers have access to the best products from around the world," Ji said.
Hobson told Xinhua that they chose TRT as their sole distributor in China because TRT has a long history and reputated brand in China. TRT also knows the market and demand of the Chinese people, so he was confident their cooperation with TRT would be very successful.
Factors Group is a Canadian owned and operated family business that has been manufacturing natural health products for more than 55 years. It has become one of the largest manufacturers of vitamins and nutritional supplements in North America, with facilities in nine locations across Canada and the U.S. and over 1,500 employees.