Vita Green to add 19 brick-and-mortar stores this year, eyes IPO only after revenue hits $10 billion

Traditional Chinese medicine and health supplement group Vita Green plans to expand and add a total of 19 brick-and-mortar stores within this year, noting that it will only formally consider an initial public offering once its annual revenue reaches the HK$10 billion threshold.

Taking advantage of the recent correction in Hong Kong property rents, the group has expanded 18 of its existing stores into adjacent units and added one new outlet this year, according to founder and chief executive officer Helen Chan. 

Previously, Vita Green invested a nine-figure sum to purchase the property and establish its new headquarters—Vita Green Tower. Located in Lai Chi Kok, the brand-new industrial development project by First Group offers 91 workshop units, with sizes ranging from approximately 1,457 square feet to full-floor layouts of 5,957 square feet. 

Chan emphasized that the group operates with zero leverage, with all daily operations and property acquisitions paid in full. She stated that the group has no intention of selling equity unless an irresistible offer is presented.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓