Youvit Ambition To Revolutionize Vitamin Business After Raising Series B Funding

A healthy lifestyle is not just a trend that emerged when the Covid-19 pandemic hit the country. The shift in people's mindset towards a healthier lifestyle has been going on for quite a long time. On the one hand, the pandemic has indirectly accelerated the pace of this shift. This can be identified by the presence of a healthy food business, busy fitness centers, to technology companies targeting this segment.

Youvit is a company that provides health products in the form of vitamins. The business was started by three entrepreneurs with a passion for building consumer healthcare experiences targeting the most populous countries in the Asian region.

After spending 18 months on product research and development, the founders succeeded in producing vitamins in the form of gummy or chewy candy. In addition, this vitamin also has content that has been adapted to the dietary needs and habits of consumers in Southeast Asia.

Youvit Co-founder & CEO Wouter van der Kolk said the vision behind Youvit products is to disrupt the vitamin market that is considered ancient and traditional. Meanwhile, there is a huge market potential for quality products that specifically target millennials from the middle class in emerging markets like Indonesia.

“We believe that the nutrition industry is not doing well and is ready to be disrupted. Many large companies targeting the mass market label themselves as healthy, even though their production is unhealthy. Meanwhile, millennials in developing countries want a new and innovative brand that offers premium products that are affordable, and have a passion for consumers," Wouter said.

Youvit has embarked on a journey to revolutionize the vitamin industry in the Indonesian market by making quality products accessible to middle class urban millennials. Youvit's first flagship product is gummy multivitamins for adults

Until now, the categories of vitamins offered on the platform are quite varied. Starting from multivitamins for adult and child health, to vitamins for hair loss and skin problems. Youvit products are also available at more than 20 thousand points of sale, including in stores online and E-commerce famous.

In terms of distribution, the company also operates a model omnichannel, including sales through situs they. Based on the data collected, it revealed that D2C-based sales (direct-to-consumer) was the fastest growing channel. Its value has grown 6x from Q1 '22 to Q3 '22.

The company has also launched a program loyalty which is called YOUVIT Club. Currently, membership is still based on WhatsApp groups. "But we see enormous interest and interest and are working to create a more permanent space for our community," Wouter said.

Within this community, members can receive free consultations and advice on health and nutrition from a dedicated team, led by nutritionist Rachel Olsen. This community also actively organizes exclusive events for its members and regularly provides special offers.

Business plan and target market

Recently, Youvit managed to book a series B funding of $6 million or more than 93 billion Rupiah led by Unilever Ventures. This round was also attended by previous investors DSG Consumer Partners and several new investors. The company's ambition is to become a vitamin brand leader for the "urban millennial" in the Southeast Asian region.

This fresh fund will be used to expand its product range as well as launch a new form of manufactured vitamin brand, while adding talent to its team. In addition, to support the company's mission to revolutionize the vitamin business in a more innovative form.

In line with the shift in lifestyle related to customer behavior, Youvit aims to modify the vitamin category from its position as a traditional medicine to a more trendy lifestyle space, while changing (pivots) distribution from traditional retail to omnichannel.

The company recently launched their first product in Malaysia and is seeing strong traction in that market. The company will also soon launch a full range of products including at Guardian, Watsons, and AEON malls as well as online via Shopee and Lazada Malaysia before the end of this year.

Asked about the target market, Wouter revealed that millennials have a different view of life from the previous generation. This is seen as an opportunity to build a brand for a new generation towards a healthier and more active lifestyle. "We focus on urban areas because this is the axis of that development," he added.

Wouter also emphasized that Indonesia will remain the main market, "We plan to double our retail channels and online and invest in marketing and brand development to grow into the leading vitamin brand in the region."

In Indonesia, several players who are also targeting a similar segment include: Lifepack and a pharmaceutical company from Singapore SwipeRx.