TheSet.Co, a one-stop shop platform, is created by Wellnex Life (ASX: WNX) to offer products directly to consumers in the large and expanding online health and wellness industry.
The website serves Wellnex’s first direct business-to-consumer (B2C) retail channel. It presents an initial selection of 19 “hardworking and functional” self-care products (like sunscreens, moisturisers, creams, and shampoos) directed at active consumers.
The company created and extensively tested products and formulations to ensure the greatest quality. The company claimed to have taken the environmental impact of the skincare and cosmetics sectors into account while creating its goods and packaging.
The new site is anticipated to offer Wellnex much higher margins than typical retail sales, which will boost the company’s profitability.
During the official launch, there will be a special offer for Wellnex stockholders. According to Wellnex in order to boost income, their goal is to increase brand and platform recognition.
Self-care items in Australia’s online health and wellness sector presently account for $1.5 billion, likely to rise by $3.5 billion by 2026.
Wellnex is involved in advertising items that would enhance customer well-being and satisfaction.
The company introduced the Performance Inspired and Ocean Road Dairies brands in October through Chemist Warehouse, the national pharmacy retail chain.
The company’s revenue growth is projected to be driven by brands complementing the expanding range of Wellnex goods.
A variety of take-home whitening products manufactured by Mr. Bright’s company was purchased by Wellnex in September for $1.5 million.
Currently, the goods are distributed in the US, the UK, and online. Wellnex hopes to expand into Australia, where penetration has been ‘minimal’ thus far.
Wellnex secured $6.2 million earlier this year through the sale of secured convertible notes In order to hasten its entry into the high-growth, high-margin S3-certified over-the-counter medicinal cannabis market.