KUALA LUMPUR: Health-oriented and wellness consumer product direct-selling company, DXN Holdings Bhd (DHB) has made its entry into the Brazilian market as the company is optimistic about the growth prospects in the country.
Non-independent executive chairman and founder Datuk Lim Siow Jin said his optimism on the growth prospects in Brazil stemmed from the country’s significant population of over 210 million and increasing urbanisation, which presents opportunities for consumer businesses like DXN. “Our strategic entry into Brazil is aimed at leveraging the strong brand presence and success DHB has achieved in other Latin American countries including Mexico, Peru, Bolivia, Columbia, and more.
“DHB’s marketing strategy allows any of our global members to conduct and grow their business in any country where the company operates without geographical constraints. We are confident about the potential our members have in expanding into Brazil,” he said in a recent statement. DHB has set a plan to open its office in Sao Paulo in March 2024. “So far, DHB has successfully registered 10 products which are already approved for the Brazilian market.
“Our flagship instant coffee product aligns well with Brazil’s rich coffee culture, enhancing our confidence in capturing market share there,” he said. Lim said the interest in health supplements that improve wellbeing is on the rise globally and DHB’s offerings, which include products formulated with herbs and medicinal plants such as spirulina, and lion’s mane mushroom, are well-positioned within this expanding market. “As the health supplement sector continues to grow, there is a significant opportunity for DHB to accelerate global expansion efforts to capitalise on this rising market,” Lim said. The company is expanding its product portfolio in alignment with dynamic consumer demands.
In addition, DHB is actively in the process of establishing another branch office in Brazil as part of its strategic efforts to expand its market presence in the country. To support DHB’s growth in the Latin America region, the company’s second production facility in Mexico is now operational, with a size 2.8 times that of the first, and is involved in manufacturing coffee products, food supplements and beverages. Since DHB entered into the Latin America region in 2004, the company has strengthened its network there to 3.6 million members.
Sales from the region have been instrumental in DHB’s revenue growth, accounting for 60 per cent of total revenue in the 9-month financial period ended November 30, 2023. DHB’s entry into the Brazilian market is expected to further enhance this growth trajectory.
