Personal care company H20Plus will fully relocate to San Francisco, California next year and will eventually outsource manufacturing.
Under Joychen's leadership, H20PLUS will no longer produce marine products, but will sell and promote them to the international market.
Chen took over as the company's CEO earlier this year and joined with Crain' SchicagoBusinesscom shares the outline of her strategy to make the company profitable again: "I have less than three years to go as CEO. What I'm thinking about right now in the first year is how to stabilize the business and make some strategic choices to how to transform it? I think our growth plan had to start in 2016 and accelerate in 2017. ”
Explaining the reason for leaving Chicago, Illinois, Chen said last week: "After careful analysis, it was clear....The current manufacturing structure is not in the company's long-term financial interests. ”
Chen's previous success at Yesto suggests that she may be looking for ways to expand the brand beyond its signature marine ingredient. She turned Yesto Carrots, a company developed around one key ingredient, into a company that specializes in simple, natural** care and positivity.
H20Plus was officially rebranded three years ago and has since steadily integrated the Asian market, ingredients and partners. In 2012, the company also launched a night cream containing Japanese seaweed, and expanded its partnership with Disney Spa to include Hong Kong Disneyland. Last year, H20PLUS products began to be sold in Sephora stores in China.
In 2011, Japan's Polaorbis Holdings acquired H20PLUS. Now, by relocating to California, the company plans to take advantage of the region's proximity to the Asian market.
San Francisco Economic & Workforce Development Director Toddrufo told **: San Francisco's...Strong global connections make it an ideal location for businesses looking to expand into Asia and other international markets. ”
The move will move nearly 50 employees to the new location, while also hiring new sales and marketing staff. According to the company's first launch on the relocation plan, H20Plus is currently looking for office space in San Francisco's Financial District.