Innovation In Women’s Health And Wellness: Meet The LULU Group
From Forbes:
A recent McKinsey survey of the health and wellness market summed up the industry’s growth this way.
First, wellness as a global industry is growing impressively. The firm estimates that wellness exceeded $1.8 trillion dollars overall and $480 billion in the US alone, growing 5 -10% annually.
More impressive still is how it’s growing. 82% of US consumers see wellness as an important priority in their everyday lives, as do 73% of UK consumers and 87% of Chinese consumers. Its best customers are Gen Z and Millenials who, according to McKinsey now purchase more wellness products and services than older generations.
And it’s an ecosystem of products and services: health, sleep, nutrition, fitness, appearance, and mindfulness.
As the market expands, sources of innovation in health and wellness are diversifying well beyond the usual suspects. Beyond well-established global innovators in the US and France, new products and services are being created in South Korea, Japan, Israel, Australia, Singapore and Kazakhstan.
Yes Kazakhstan, the home of fast-growing startups like the LULU Group, Hero’s Journey, and Resolventa.