SHANGHAI--(BUSINESS WIRE)--Herbalife Nutrition (NYSE:HLF), a premier global nutrition company, today announced plans to open a Product Innovation Center in Shanghai by the third quarter of 2020.
“Opening the Center allows us to strengthen our local research and development capabilities to deliver more science-backed, quality products and we expect to double both the number of products and speed to market in the next five years,” said Dr. Qunyi Zheng, senior vice president of Herbalife Nutrition, Chairman of Herbalife Nutrition China.
With an investment of over 100 million RMB in the next three years, the Innovation Center will be in Zhangjiang Hi-Tech Park, often referred to as “China’s Silicon Valley.” The Center covering over 21,500 square feet will include research and development space dedicated to creating new products and packaging and house several laboratories. Also, the Company plans to conduct studies such as around weight management, sports nutrition, and personalized nutrition to better serve consumers.
In China, Herbalife Nutrition opened its first factory in 1998. Since then, the Company has grown its presence and now has the upcoming Product Innovation Center in Shanghai, the botanical ingredients center in Changsha and two production technology centers in Nanjing and Suzhou.
Herbalife Nutrition also has manufacturing facilities in Lake Forest, CA and Winston-Salem, N.C.
About Herbalife Nutrition
Herbalife Nutrition is a global nutrition company whose purpose is to make the world healthier and happier. The Company has been on a mission for nutrition - changing people's lives with great nutrition products and programs - since 1980. Herbalife Nutrition offers high-quality, science-backed products, one-on-one coaching with an Herbalife Nutrition independent distributor, and a supportive community that inspires customers to embrace a healthier, more active lifestyle.
Herbalife Nutrition’s targeted nutrition, weight-management, energy and fitness and personal care products are available through its independent distributors in more than 90 countries.
Herbalife Nutrition supports the Herbalife Nutrition Foundation, a non-profit organization that assists community organizations focused on providing good nutrition. Herbalife Nutrition is also proud to sponsor more than 190 world-class athletes, teams and events around the globe.
Herbalife Nutrition has more than 8,300 employees worldwide. To learn more, visit IAmHerbalife.com.
Forward Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA"). All such statements in this release, other than statements of historical fact, could be deemed forward-looking statements and as such are intended to be covered by the safe harbor for "forward-looking statements" provided by the PSLRA. Without limiting the foregoing, statements including the words "expect," "intend," "will," "plan," "anticipate," "believe," "we are confident that," "forecast," "guidance," "outlook," "goals," and similar expressions are intended to identify forward-looking statements.
These forward-looking statements could include but are not limited to statements related to our expectations generally regarding our market positioning, future business performance and capabilities and financial results. Our actual results and other events could differ materially from any forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties. These risks and uncertainties include, among other things, the risk factors set forth in our most recent quarterly report on Form 10-Q, and the other risks and uncertainties discussed in any of our subsequent filings with the SEC from time to time. The forward-looking statements should be considered in light of these risks and uncertainties. All forward-looking statements in this release are based solely on information available to us on the date of this release, and we undertake no obligation and do not intend to update these forward-looking statements.