NEW YORK, New York, U.S. – GenTech Holdings, Inc announcea that the Company’s recently acquired Sinfit Nutrition (“Sinfit”) branded products, which registered over $2.2 million in global sales in 2019 across ten (10) countries, are approved for sale and available for purchase on the Walmart.com and Amazon.com e-commerce platforms as well as being available across the US in many popular stores.
David Lovatt, CEO of GenTech, commented, “We have already seen a strong uptick in Sinfit sales through international deals since our acquisition. Now, we are seeing online performance gaining a very meaningful increase in traction through the likes of Amazon.com and Walmart.com. I could not have been happier with the $130,000 in closed orders we received in June alone.”
Lovatt continues, “We have more very good news coming in the near future too, as we continue our broad expansion in physical store distribution. We have recently earned ‘mass retail’ status with our partners at Europa, the largest sports nutrition distributor in the USA. This grants us significantly expanded access to general products stores, including grocers, mass retailers, along with US Army stores and Navy exchanges across the US. We look forward to discussing this in further detail over the very near-term horizon ahead.”
This expansion comes following a series of large commitments to order from international distributors, as discussed in GenTech’s prior two communications, including a total of $270,000.00 in minimum commitments from distributors in UAE, Singapore, Mexico, and Canada. These commitments are currently being finalized and will shortly start turning into actual orders.
Management continues to see Sinfit products as extremely well-positioned relative to their company peers, and to the long-term macro tailwind defining the functional foods market, which saw sales top $267 Billion in February of this year on a global basis, with sales in the US reaching $63 Billion, according to Euromonitor 2020.
This upwards trend is part of even larger supportive momentum in the general category, with global sales of organic food and drink topping $105 Billion in 2018 (Ecovia 2019). U.S. organic food sales also reached $47.9 Billion, up 5.9% in 2018 (OTA 2019). In 2019, 77% of U.S. adults used dietary supplements, an all-time high (CRN 2019). U.S. supplement sales are estimated to have reached $49.3 Billion in 2019, up 6.2% (NBJ 2019).
