Whether you’re attempting to fight a vitamin deficiency, lower the risk of catching a disease, fight a cold or improve your health, taking dietary supplements has seemingly been part of the human regimen in the United States for decades. Since first becoming available in the 1940s, drug and grocery stores have never stopped making significant revenue from people trying to find health and wellness solutions in a pill or powder.
Some of the supplement industry offers synthetic and highly processed options with lots of fillers and questionable science. While the U.S. Food and Drug Administration (FDA) is tasked with oversight, according to the American Medical Association, dietary supplements are not approved for safety and efficacy, putting limits on how “oral vitamins, minerals and herbals can be marketed, almost all still claim to have some salubrious effects, hence that curious disclaimer on their packaging.”
Whether supplements contain mystery ingredients or are expensive wellness placebos, they remain a robust business. The supplement industry grew more than 14% in 2020 to $152 billion and is expected to reach more than $272 billion by 2028.
The majority of supplements in North America are sold by large public companies, led by Costco Wholesale Corp.’s COST Kirkland Signature brands, Otsuka Holdings’ OTSKY Nature Made and Life Extension supplements and Nestle ADR’s NSRGY Garden of Life line.
But a female-founded Canadian upstart states it is trying to disrupt the industry with supplements made only from therapeutic doses of plants. The Well Told Company Inc. WLCO 7HO offers plant-based supplements, remedies, and other functional wellness products. After making its name in Canadian stores, it has recently announced a U.S. expansion into CVS, Walmart Inc. WMT, and airports across the U.S. with Treat. Expansion Plans
The company initially announced in December 2021 that it would launch into over 800 CVS stores with 2 SKUs. Since then it has expanded into over 1,000 CVS stores with 10 SKUS and recently announced that six Well Told products are set to be listed on Walmart’s e-Commerce platform this month, including Bloating Be Gone, Energy Booster, Face the Day, Brain Power and Stress Fighter capsules and powder. The company further announced it would be launching into 20 airports across the U.S. with 4 products: Sleep, Stress Fighter, Bloating Be Gone, and Face The Day.
“This is a crucial step for us to further our expansion south of the border,” Well Told Health Founder Monica Ruffo said. “This aligns with our mission of Clean Wellness For All and making our products as accessible as possible to as many consumers as possible. This new partnership is another big step in our development in the U.S. market.”
The company has an origin story highlighted by serial entrepreneur Ruffo, who launched the company after undergoing treatment for breast cancer. Deciding to take her health into her own hands, she says she discovered what many had assumed — transparency is lacking in the wellness industry and that availability of clean, plant-based formulations is quasi-non-existent.
Well Told Health also found that consumers were getting increasingly skeptical about the wellness products they were ingesting, including questioning the corporate values of the companies producing them.
Ruffo and Well Told’s mission has been thus far successful, with its products now available in over 2,000 stores across Canada, including several well-known retailers. In addition to the Walmart U.S. announcement, the company also now places its product in over 1,000 0 pharmacies in the U.S., including CVS Health Corp. CVS.
That sales and distribution growth has led to the company announcing it has increased its wholesale gross revenue by 178% in Q2 2022, compared to Q2 2021. That increase included a 40% jump in year-over-year Canadian gross revenue and a 2,766% increase in U.S. wholesale gross revenue.
For more information on Well Told Health, visit welltold.com.
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