SCOTTSDALE, Ariz., Oct 29, 2007 (BUSINESS WIRE) -- Baywood International, Inc. (BYWD) ("Company") announced today that its wholly-owned subsidiary, Nutritional Specialties, Inc./dba LifeTime(R), has signed an exclusive distribution agreement with SVG Dis Ticaret, Ltd. ("SVG") to expand the existing distribution of its LifeTime(R) brand of products into the Turkish market.
SVG is an affiliated distribution company of Sunfarma A.S. / Genfarma A.S., one of the leading companies for the importation and distribution of food supplements, dermo-cosmetic and selective cosmetic products in the Turkish market. SVG's selling network will span directly to over 700 pharmacies that will be supported by a dedicated team of 26 sales professionals. SVG is also in collaboration with wholesalers for the distribution of imported food supplement products. Through collaboration with these wholesalers, SVG can reach up to 7,500 pharmacies in all over to Turkey. Currently, there are approximately 22,000 pharmacies in Turkey.
As part of SVG's valued-added distribution capabilities, they prepare a sales package consisting of a marketing plan, product displays, literature and training seminars for the pharmacists and their assistants. On behalf of the LifeTime brand, they will also invest in public relations, sales promotion and press coverage to enhance the products' visibility and the credibility in the market. Presently, there are approximately 45 products under the LifeTime brand that are registered and being sold into the Turkish market.
"Currently, the LifeTime brand ranks as number two in Turkey and is available in approximately 650 pharmacies. With this new distribution agreement with SVG, we expect to establish a significantly greater presence for the LifeTime brand and continue to build our network of pharmacies in the Turkish market," stated Neil Reithinger, President & C.E.O. of Baywood.
"We look forward to working closely with Baywood and LifeTime in building this brand further in our market. It has an existing foundation that allows us to accelerate our efforts in the most efficient way possible to build sales and brand awareness in Turkey," stated Cem Boydas, Director of SVG. "The market for supplements is strong and growing considerably in Turkey, and with our expertise in the marketing and distribution of these types of products, we expect to enjoy a mutually beneficial partnership over the coming years," Mr. Boydas further stated.
According to the U.S. Commercial Service, the population of Turkey approximates 70,000,000, with 67.3% of the population between the ages of 15 - 64 and a total median age of 27.7. Vitamins and dietary supplements are becoming popular among urban Turkish consumers with increasing disposable incomes. Turkish people are predisposed and accustomed to consuming herbal products to treat illnesses or overcome health related problems. This is a significant factor that affects the consumption of dietary supplements in Turkey. Major supplements being sold on the market include: herbal products, diet products, sports and fitness products, antioxidants, cosmetics, vitamins and bone support supplements(a).
Baywood International, Inc. (BYWD) is a nutraceutical company specializing in the development, marketing and distribution of its own proprietary brands under the names Baywood PURECHOICE(R), Baywood SOLUTIONS(R) and Complete La Femme(R). The Company's products are distributed through independent and chain health food stores, pharmacies, grocery stores, and other direct-to-consumer channels both internationally and domestically. Baywood's wholly-owned subsidiary, Nutritional Specialties, Inc./dba LifeTime(R) or LifeTime(R) Vitamins ("LifeTime"), is a nutraceutical company that was established in 1988 and specializes in the development, marketing and distribution of its own brands under the LifeTime(R) name. LifeTime's brands currently consist of approximately 370 products that are sold directly to independent and chain health food stores, pharmacies, natural food stores, and other direct-to-consumer channels across the United States. In addition, LifeTime's products are sold internationally through distributors in Canada, Croatia, Turkey, England, Dubai, Holland, Sweden, Portugal and certain parts of Asia. For more information, call (888) 350-0799, or for more information, visit www.bywd.com.
(a) Source: U.S. Commercial Service, April 2006
This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company's expectations, among other things, are dependent upon general economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to integrate the business of Lifetime, need for and availability of additional capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company's Form 10-KSBs and 10-QSBs on file with the United States Securities and Exchange Commission.