Lotte Home Shopping to enter health functional food market
Ji-Yoon Yang
Jun 24, 2024 (Gmt+09:00)
South Korea's Lotte Home Shopping announced on Monday that it plans to establish a joint venture, The Edition Health, with H.Pio, a specialized health functional food company and a subsidiary of the Danish Food Cluster, Denps, to develop and sell protein health foods.
Lotte Home Shopping and H.Pio have agreed to jointly invest 2 billion won ($14.4 million) in capital.
Both companies plan to develop high-profit products and build a competitive brand.
H.Pio will handle product planning, raw material sourcing, and marketing, while Lotte Home Shopping will support broadcast sales and entry into the sales network of Lotte Group affiliates.
The Edition Health is set to launch its first product, a health functional food named Denmark Protein Story in August.
The product lineup will be diversified to include protein bars and beverages.
The venture aims to expand its business scope to protein-based healthcare, targeting an annual sales goal of 100 billion won by 2028.