PURCHASE, N.Y.--(BW HealthWire)--June 24, 2002--Nutrition 21 (NASDAQ: NXXI), Gail Montgomery, President and CEO of Nutrition 21, announced today the Company has entered into a long-term sales representation agreement with Segel Associates, LLC, to represent its consumer product lines in the television market.
Segel Associates currently provides representation for the Company's Lite Bites(R) and Brite Bites(TM) product lines to QVC in the United States and United Kingdom television markets, respectively, and has done so for the past seven years.
"Our association with Segel Associates has helped to make Lite Bites one of the most enduring and successful brands marketed on QVC. Marvin Segel, the President of Segel Associates, was first introduced to us as a successful user of the Lite Bites Fat Fighting Program. His inspirational story of having lost 80 pounds with our products is an integral component of the Lite Bites brand identity. With the support of Segel Associates as our sales representative, cumulative retail sales of Lite Bites now exceed $50 million through the QVC channel," said Montgomery.
The continuation of our relationship with Segel Associates is based on our companies' mutual interest in meeting three important business objectives: 1) to continue to develop the Lite Bites brand on QVC; 2) to leverage the QVC brand equity to expand our retail distribution of the product; and 3) to work with Segel Associates on the launch of new brand opportunities in the television shopping market," she added.
Mr. Segel said, "I am excited about the future opportunities presented by our relationship with Nutrition 21. There is significant market potential for Nutrition 21's existing brands. The products taste great, deliver on the health benefits promised and are competitively priced. In an industry that often skimps on scientific research, Nutrition 21 is uniquely committed to developing products that are scientifically validated. I look forward to working with Nutrition 21 on expanding their consumer product franchise."
About Nutrition 21
Nutrition 21 is a leading developer and marketer of nutritional products whose health benefits have been substantiated by clinical research. The market leader in nutritional chromium, Nutrition 21 currently holds 35 patents for nutrition products, 22 for chromium compounds and their uses. More information is available at www.nutrition21.com.
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