Unilever has become one of the major investors in the latest funding round undertaken by PT YOU Indonesia, a nutraceutical/food supplement supplier under the brand of Youvit.
Youvit plans to use the funds to expand its product range, hire more workers and launch its full product range across Malaysia. It also wants to expand its presence in Southeast Asia targeting urban millennials in the region after successfully become Indonesia’s ‘No.1 gummy vitamin brand’.
Youvit argues that the vitamins market is “rusty and old-fashioned” and believes there is “a large market for quality vitamin products in innovative formats that specifically target millennials from the emerging middle classes in growth markets such as Indonesia.” Wouter van der Kolk, Co-Founder and CEO at Youvit said, “Customers deserve a better experience. We aim to improve the health and well-being of hundreds of millions of customers and as a result grow into the number one vitamin brand for urban millennials in Southeast Asia.”
Unilever has been acquiring companies in the vitamins and supplements business with its latest acquisition of US-based Onnit last year. In 2020, Unilever bought US-based SmartyPants Vitamins and in 2019, it acquired US-based vitamins-to-snack-bars firm, Olly Nutrition.
Youvit plans to capitalise on its unique omnichannel distribution model with presence in more than 20,000 modern retail stores and strong traction through online channels and its DTC platform at www.youvit.co.id. The expansion plan includes the launch of the full product range in Malaysia and ramping up across Southeast Asia.
Preventative health and vitamins are top of mind among consumers across emerging markets. The Southeast Asian supplements market size is expected to reach US$10.6 billion by 2026, fueled by increasing health consciousness among the urban population. The pandemic accelerated a lifestyle change towards preventative health and millennials are often at the forefront of this shift.
According to a report by Inventure Knowledge, 52% of Indonesians are consuming more vitamins since the pandemic. Furthermore, lockdowns and movement control measures have triggered a rapid shift towards online and direct-to-consumer (DTC) sales channels.
Youvit is uniquely positioned to leverage the changes happening in the market. After launching its first products in 2017, it quickly became the product of choice for millions of urban millennials, 70% of which are female. Headed by co-founders Wouter van der Kolk and Maarten Vrouenraets, Youvit has breathed new life into the supplements category with its innovative line of one-a-day gummy vitamins. The products are also formulated with health-conscious millennials in mind and tailored to local tastes and needs such as Halal certification in Indonesia and Malaysia, vitamin dosages based on the local recommended intake values and local ingredients like curcuma. The gummy vitamins come packed with nutrients and minerals to boost immune function, brain development, energy, beauty and overall health of adults and children. It is tasty and healthy and loaded with natural fruit flavors giving it a new twist. Youvit, with its modern and convenient packaging, also offers a welcome alternative to the more traditional, medicinal vitamin pill brands.
