On September 27, 2019, Herbalife announced that it will establish the Herbalife China Product Innovation Center in Shanghai. It will be Herbalife's first product innovation center in the world and is the latest move to penetrate the Chinese market.
Herbalife China Product Innovation Center aims to rapidly transform the most cutting-edge scientific and technological achievements in the field of nutrition science into nutritional health products, while strengthening local innovation and R&D capabilities. After the product innovation center was put into operation, Herbalife expects to double the number of new products put on the market within five years, and make the center a world-class nutrition science and technology incubation center.
Dr. Zheng Qunyi, Senior Vice President of Herbalife Global and Chairman of Herbalife China, said: “The arrival of Herbalife's first global product innovation center in Shanghai demonstrates our confidence and long-term commitment to the Chinese market. We will continue to strengthen R&D and product innovation capabilities, promoting the development and marketing of new products suitable for Chinese consumers effectively and quickly, and also provide the public with quality, nutritious and rigorous science-based products. In the future, Herbalife looks forward to building on its leadership in sports nutrition as well as personalized nutrition while maintaining a leading position in weight management."
The Herbalife China Product Innovation Center is part of the 700 million-yuan “China Influence Development Investment Plan” announced in 2018. With a total investment of nearly 100 million yuan over the next three years, the first phase will cover an area of about 2,000 square meters. The construction began in November 2019 and is scheduled to be completed and put into use in the third quarter of 2020.
Since the establishment of it’s first factory in China in 1998, Herbalife has been committed to continuously increase investment in local R&D and product innovation. And Herbalife has four R&D centers in China so far, including its Asia-Pacific R&D headquarters in Shanghai, the plant material R&D center in Changsha, and two production technology R&D centers in Nanjing and Suzhou.
The Chinese Source: