Naturally Splendid (TSXV:NSP) announced that through their South Korean master distributor Korea Beauty & Healthcare Co., Ltd., the company has launched Naturally Splendid hemp foods through the Lotte Home Shopping Channel in South Korea under the brand Paleo / NATERA.
As quoted in the press release:
Korea Beauty & Healthcare Co., Ltd. has developed the Paleo / NATERA® brand of shelled hemp seeds specifically for the Asian market. Naturally Splendid is the exclusive supplier of hemp food products, including shelled hemp seed, to Korea Beauty & Healthcare Co.
The Lotte Home Shopping Channel is South Korea’s second largest shopping channel with gross sales of approximately $3 billion CDN in 2015. It is estimated that, as of September 2011, Lotte Home Shopping was available in more than 21 million unduplicated households, including more than 15 million cable households.
Naturally Splendid CEO, Craig Goodwin, stated:
We are definitely pleased with the speed that Korea Beauty & Healthcare are progressing. The Lotte Home Shopping Channel has gotten off to a tremendous start and I am confident will continue to be a successful venture. Lotte is a significant player in the home shopping environment. In South Korea, the online retail market which encompasses internet and TV shopping, is forecast to reach $31 Billion CDN in 2018. According to Korea Statistics, the total trade volume of online retailers for 2014 has surpassed the trade volume of large offline retailers and Lotte Home Shopping Channel is a significant player in this market.