Lite & Slim, a Korean startup that manufactures oral diet spray Nuvitrin, secured a three-year exclusive distributorship agreement with Branded Star.
Branded Star recognized Nuvitrin’s competitive advantages in the diet product market. Prasan Treewatanawong, the director of trade department at Branded Star, confirmed that it agreed to exclusively purchase two million dollars worth of Nuvitrins for the next three years and introduce the product to Thailand. Based in Thailand, Branded Star is a trading company that imports and distributes various global products to the Thai market.
Nuvitrin was introduced to the Korean market in June 2014. It is currently the only oral diet spray available in the market. The spray helps users avoid excessive eating habits so that they could consume calories from their body fat. Users simply spray the product in their mouth, which contains ingredients that help control appetite.
Though weight-loss products often encounter side-effects such as depression, vomiting, or abdominal pain, Nuvitrin claims that the product causes no side effects because it only contains FDA approved natural ingredients like olive extracts, and maltodextrin, a starch-based additive.
Sae Jin Hwang, the CEO of Lite & Slim, said, “the exclusive distributorship agreement with Branded Star was only possible from the trust that we win with our outstanding R&D and production sites.” He also mentioned that such achievement is an indication that Korean startups are being recognized worldwide for their technological advancements and production abilities. He added that the agreements with Thailand and Japan would help the company build a strong financial base for global market penetration. Lite & Slim secured exclusive distributorship with Japanese Lite & Slime Inc. last August as well.
Lite & Slim also introduced a supplementary mobile application for Nuvitrin. The app notifies its users when to use Nuvitrin and provides various health-related news. The application will be marketed in Japan, Thailand, and Korea altogether.
Nuvitrin, however, faces a fair amount of competition. Noom, the most popular weight-loss support app available, launched in May 2011, set the record with more than 100 million downloads within the first month. It tracks the amount of calories users consumed for the day, and makes weight loss a social activity via IM platforms in the app. There, Noom users encourage each other to endure the frustrations of dieting. Although there are a number of health apps and Nuvitrin offers similar features, Nuvitrin’s app is notable, as it explicitly guides users how to use its product for optimal results.