Mircea Teaca (DY Nutrition) at Quarterly Report 3: "In 2024 we want to launch 130 new products on the market"
Mircea Teaca, CEO of DY Nutrition, participated in the third edition of the Quarterly Report, the #1 event for companies on the BVB, branded Ziare.com, together with main partner TradeVille, where he touched the most important milestones marked by the company in the last period. These include the partnership with Vitema Pharmaceuticals, the company's reorganization, and the addition of a global sales director to the team.
DY Nutrition was the title sponsor of the Quarterly Report event for both the first and third editions. Mircea Teacă talked about what happened in the five months between the two editions.
"Compared to the meeting five months ago, we have made a lot of progress in executing the strategic priorities we have stated. We have recently completed production lines at our partner Vitema, ensuring continuity and production for our growth plans is an important step and we will start production this very week for the first DY Nutrition products. Secondly, we have rethought the organisation of the company so that we can be more agile, more responsive to consumer needs and more proactive in setting trends.
Last but not least, we brought on board a global sales director who comes with tremendous experience in nutritional supplements, coming from the largest distributor in Europe, which gives him an addressability and reputation in the field. And I think I'm also new to the meeting five months ago, I come with over 18 years of experience in the Pharma market and I'm committed to integrating best practices from both industries to ensure we deliver on our growth plans and ambitious targets," revealed Mircea Teaca.
The market for sports and nutritional supplements is growing in Romania
Romanians spend more than one billion euros annually on supplements. There are also more than one million active members of fitness clubs and gyms, which have tripled their revenues in the last five years. Mircea Teaca was asked on stage at the Quarterly Report conference where Romanians can find DY Nutrition products.
"Romania is growing in terms of spending on sports and nutritional supplements, also because we are still half the European average at the moment, so there will be further increases. As far as we are concerned, in Romania we are present on all the usual B2B channels, namely in gyms, in specialized stores, but we are also focusing a lot on the online side, with our own website, through which we forecast to grow significantly in the coming period", said Mircea Teacă.
DY Nutrition, in the top 5 best performing brands in 2023 in terms of revenue
In 2023, DY Nutrition was in the top 5 best performing brands by revenue in the nutritional supplements market. Mircea Teaca highlighted the quality of the products, but also revealed that in 2024 the company will launch 130 new products.
"Qualitatively already our products are at an extremely well controlled quality level. Quantitatively, I think it would be best to talk about the plans we have because, for example, in 2024 we will focus on launching 130 new products on the market, developed in partnership with Vitema. After that, another extremely important project for us is entering the Pharma market with DY Nutrition products. We have developed innovative products for the pharma market, we plan to enter in a first phase in Central and Eastern Europe, through a strategic partner that will help us from a logistical point of view, and we will expand to other countries in the future. In terms of the sports nutrition portfolio, this year we are also planning to enter ten new countries, mainly large European countries, both in the B2B and especially B2C channel, so that we can offer our products to consumers," added the CEO of DY Nutrition.
Vitema Pharmaceuticals and DY Nutrition - a successful joint venture
Vitema Pharmaceuticals and DY Nutrition form a joint venture, as both Diana Serban and Mircea Teaca, CEO of DY Nutrition, reported in the third edition of the Quarterly Report.
"Vitema and DY form a joint venture. Basically, our company gives DY the flexibility and agility to evolve its spectacular growth at an even faster pace, while at the same time offering the possibility to optimize formulas and expand the product range to new therapeutic areas," said Diana Șerban.
"For us this joint venture with Vitema is a critical step in the development of the company. In order to ensure our forecasted growth, we need in-house production, thus securing production and the supply chain, which are quite difficult in this field", said Mircea Teacă.
"The DNA of DY Nutrition products comes from the life experience and performance of Dorian Yates"
The founder of DY Nutrition is none other than Dorian Yates, Britain's most famous bodybuilder, with six consecutive Mr. Olympia titles to his name. Mircea Teaca, CEO of DY Nutrition, talked about the "DNA of the products" in a short interview with Ziare.com at Quarterly Report.
Ziare.com: What made you choose to partner with Vitema Pharmaceuticals?
Mircea Teacă: First of all, it was critical for us to move production in-house, so that we could ensure the growth we were forecasting, and as it generally happens in life we got together with Vitema in the right place, at the right time, with aligned goals and similar vision, and then from here to this partnership was just a step.
Ziare.com: What are the main differentiators of DY Nutrition supplements?
Mircea Teacă: I'll start by mentioning Dorian Yates because, after all, the DNA of our products comes from his life experience and his performance, so the formulas of our products are by themselves differentiators from the competition and now, through the partnership with Vitema, we are going to market products registered as nutritional supplements, but with GMP Pharma, which is a guarantee of quality.