Enterprise

CANADIAN HEALTH INNOVATORS, LUCKY IRON FISH ENTERPRISE, EXPAND THEIR PRESENCE IN MAINLAND CHINA


The Move Into China Highlights A Significant Milestone For The Company As It Continues Its Mission To Tackle Iron Deficiency Globally Using Socially Conscious Business Practices.

http://finance.yahoo.com/
http://finance.yahoo.com/

Toronto, ON, March 03, 2021 (GLOBE NEWSWIRE) — Lucky Iron Fish Enterprise (LIFe), a Canadian social enterprise that is committed to tackling iron deficiency, is pleased to announce that, after months of preparation, it has officially expanded its presence into Mainland China.

The World Health Organization estimates that two billion people – over 30% of the world’s population – are anemic, mostly due to iron deficiency. LIFe’s simple cooking tools, Lucky Iron Fish and Lucky Iron Leaf, make it easy for families to enrich meals with a boost of natural iron for many years.

Since the beginning of the pandemic, trends in adoption to online shopping have accelerated. Paired with this, LIFe also noted that an increasing number of people were seeking ‘ways to eat healthier’, ‘ways to improve immunity’, and overall looking to invest in their health & wellness. These trends have lent themselves to LIFe’s growth strategies. The company saw an increase in organic traffic, social media community, and e-commerce revenue since March 31, 2020. Sales from April-December of 2020 were 144% higher than the same period the previous year, exceeding growth projections by ~15%.

“Our mission is an ambitious one – to eradicate iron deficiency globally. With China being the largest market in the world and its iron deficiency rates as high as 20%, we knew we had to find a way to better serve this group,” said Founder & CEO Dr. Gavin Armstrong.

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While expanding to China had been a medium-term goal for LIFe, the pandemic accelerated the timeline as the company pivoted and doubled down on its e-commerce growth and paused its institutional sales channel. This expansion represents a key strategic growth initiative for LIFe as it continues its mission to help improve the lives of billions of people who suffer from iron deficiency globally.

The company is currently selling its original product, Lucky Iron Fish, on Tmall Global but will be introducing its other product, the Lucky Iron Leaf, during phase two of the expansion.

LIFe is a certified B-Corporation that has been recognized for incorporating sustainable and ethical practices into its business model, positioning social impact at the heart of its business.

Making its innovation accessible to communities in need is a core value of the company. LIFe uses a portion of every sale to donate to its Impact Fund, which provides free units as well as nutrition training to undernourished and underserved populations. LIFe is committed to preserving this impact model for its Chinese expansion.

ABOUT LUCKY IRON FISH:

Lucky Iron Fish is a clinically proven cooking tool that infuses meals with iron to help treat and prevent iron deficiency. It is designed to be dropped in boiling water or liquid-based meals for 10 minutes to release a significant portion of your daily recommended iron. This simple iron-fortification tool makes it easy for families to enrich meals with a boost of natural iron for many years.

Lucky Iron Fish Enterprise (LIFe) is on a mission to improve global health by making iron deficiency a thing of the past!

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For more information or interview availability, please contact Lori Harito, publicist

lori@boulevardofdreams.ca (416.523.9602) or shraddha@luckyironfish.com

Attachments

CONTACT: Shraddha Sekhon Lucky Iron Fish +1 888 717 4224 shraddha@luckyironfish.com
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