The global conversation around preventive healthcare and healthy living has fueled a surge in the dietary supplement market, which is projected to grow at a CAGR of 9.1% from 2024 to 2030*.
Consumers are taking charge, seeking high-quality products that empower their individual well-being journeys. This booming market welcomes a new wave of success stories, and Bloom Nutrition stands out.
Founded in 2019, Bloom began as a direct-to-consumer seller of pre-workout powders. But Mari Llewellyn's vision, fueled by her own wellness journey, blossomed into a TikTok sensation and conquered the supplements market.
Bloom offers a comprehensive range of supplements, from protein powders and superfood blends to collagen boosters and vitamins. They're packed with high-quality ingredients that deliver essential nutrients and support your overall health, all while being delicious.
However, their growth trajectory wasn't without its challenges. Let's delve deeper into Bloom's story and explore how they navigated the competitive landscape to cultivate success.
Bloom Nutrition’s social media virality captivated audiences worldwide, not just in the US. In conversations with Open Border, Bloom realized the significant untapped demand for their products in various local markets and distribution channels. For example, Bloom hadn't yet established a presence on major online marketplaces like Amazon. Based on their organic search volume alone, it was clear they could quickly capture a healthy 7 figures in EBITDA, and with some optimization, this number could grow even larger.
However, the requirements to launch and import their products in 4-5 new markets at the same time was an intensive process.
Bloom Nutrition's ambitious global vision faced a complex reality. Each product required navigating a maze of local regulations for labeling, import taxes, legal requirements, and finding reliable logistics partners across the globe. The intricacies of international freight forwarding and managing inventory across diverse markets further added to the challenge.
Going international and establishing a presence on Amazon was a key priority for Bloom, but they didn’t want their best resources to shift their focus from the core US market to managing international logistics and day-to-day operations on Amazon.
That’s where OpenBorder stepped in, leveraging their expertise to establish a robust omnichannel presence, internationally.
Tax Compliance: Importing goods internationally often requires a lengthy (4-12 months) tax registration process with hefty KYC documentation. For Bloom, this delay translates to lost sales (EBITDA) alongside losing a loyal customer base.
OpenBorder imports Bloom's products under their existing entities, avoiding the need for individual tax registrations, and saving Bloom up to thousands per jurisdiction per quarter in fees. This also frees Bloom from needing dedicated international finance staff, a costly expense for a growing company like theirs.
Deferred Import VAT: Thanks to OpenBorder's existing entities and deferral licenses, Bloom can delay import VAT payments until the point of sale. This keeps cash readily available for further growth initiatives.
Product Compliance: OpenBorder ensures all Bloom products meet regulatory requirements in target markets like the UK, Mexico, Canada, and the EU. This often complex process involves:
These requirements can vary significantly between jurisdictions in terms of timeframe and cost. OpenBorder's solution combined with an experienced internal compliance team and an AI model to expedite the process and minimize disruption for Bloom's team.
When OpenBorder met Bloom, they were already shipping international orders on their .com site. However, after an audit conducted by the OpenBorder team, it became clear Bloom was losing margin, and deterring customers with a sub-optimal user experience.
OpenBorder's partnership fueled Bloom's international sales on Amazon marketplaces like the UK and Mexico, achieving a 2X increase. With projections to triple by summer and quadruple by year-end, Bloom's international presence is on track to exceed eight figures in profitable revenue.
This success stemmed from a collaborative approach:
In a nutshell, all Bloom needs to do is provide a purchase order – OpenBorder takes care of the rest
Bloom Nutrition isn't stopping the momentum. They're aiming to expand further into Amazon Canada and the EU in 2024, targeting significant international profits. With their products stored in local warehouses across the world, Bloom will also start to ship DTC orders from regional warehouses dramatically increasing DTC shipment speeds and profitability.
We can't wait to witness and also be a part of their growth journey.
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