Lotte Homeshopping enters health supplement market

Lotte Homeshopping announced on the 12th that it signed an MOU with Japan’s Asahi Group Foods on the exclusive supply and sale of health functional food ingredients on the 11th. (Lotte Homeshopping)

Lotte Homeshopping Co. is advancing into the health supplement ingredient business as part of its strategy to diversify beyond its core home shopping operations.

The company announced on Thursday that it signed a memorandum of understanding (MOU) with Japan’s Asahi Group Foods on Wednesday for the exclusive supply and sale of health supplement ingredients.

Lotte Homeshopping CEO Kim Jae-gyeom and Asahi Group Foods President and Representative Director Hiroshi Kawahara attended the signing ceremony.

Under the agreement, Lotte Homeshopping will exclusively source health supplement ingredients developed by Asahi Group Foods and leverage these products to drive various business initiatives.

The two companies anticipate that the combination of Asahi’s technological expertise and Lotte Homeshopping’s distribution experience will create a synergistic effect.

Looking ahead, Lotte Homeshopping plans to exclusively import six types of health supplement ingredients developed by Asahi Group Foods by 2028, with the goal of expanding its business-to-business (B2B) model.