Economic Forum: Mrs. Keym, how do you assess the current market situation and where do you see Astrid Twardy in the market?

Jana Keym: The market situation has significantly changed since the coronavirus pandemic, with an increased health consciousness of people and their preventative measures for health maintenance taking center stage. Twardy, as a nutritional supplement brand, positions itself in this dynamic by specifically focusing on target groups that are increasingly shopping in physical pharmacies or online pharmacies and can continue to afford these products. These buyer segments are primarily convinced by the high quality of the products. The focus of our brand is on understanding the needs of these target groups. Over the past few months, we have been intensively thinking about our product portfolio and new developments to meet the changing market conditions.

We place special emphasis on ensuring that our raw materials come exclusively from Germany, as regional sourcing is a central concern of our customers. This not only underscores our connection with local resources, but also contributes to a sustainable method of production. In addition, we are increasingly focusing on the Clean Label concept, by developing products with as few additives as possible. Our new products will particularly focus on emphasizing this priority and offering customers transparent and high-quality dietary supplements.

Economic Forum: What are important products or product areas?

Jana Keym: In the course of our market analysis, we conducted a portfolio cleanup and focused on key areas. Particularly noteworthy are products that support the immune system – here, our combination of zinc and selenium is a highly sought-after bestseller. In the area of joints and bones, our top product Mobiforte® is very popular. Furthermore, we are experiencing high demand for our silica and vitamin B products. We plan to further expand the areas of immune system and bone health. Additionally, we are focusing on women's health and beauty. In spring 2024, we will launch a beauty collagen product.

Economic Forum: What trends are you currently observing in the market?

Jana Keym: Currently, we are observing several trends in the market. One trend is the increasing popularity of clean label products with minimal additives, which indicates a heightened awareness of healthy eating and transparency among consumers. Furthermore, interest in topics such as women's health and beauty is growing significantly. These developments have a significant impact on our product development as well as our strategic market orientation. There is clearly a rising demand for products that support the immune system, in line with current health trends. Additionally, products for joints and bones are gaining importance, particularly due to the growing interest in holistic well-being. These trends are reflected in our product offering. Moreover, we are observing a clear trend towards price sensitivity among some of our end customers in the market, which is caused by economic challenges. This increased price awareness requires us to have a balanced strategy: We want to offer high-quality products that remain affordable.

Economic Forum: What are your current topics in the company?

Jana Keym: We are currently in a comprehensive modernization process. In recent months, we have initiated significant changes, including the revision of our online area, the implementation of new social media strategies, and a redesign of our advertising measures. Our focus is on increasingly addressing end consumers and strengthening brand awareness. Until now, our brand was primarily present among pharmacy staff. Through increased online advertising and a realignment of our marketing strategy, we now also want to directly address end consumers. Although our brand has existed since 1960, we see the need to reinvent ourselves in many areas and sharpen our brand profile. By rejuvenating our brand, we also aim to address a younger target group and strengthen our market presence.

Economic Forum: What are your plans for 2024?

Jana Keym: Despite challenging market conditions, we are pleased to have concluded the year 2023 with a revenue increase of 5%. Our goal for 2024 is to maintain or even exceed this growth, especially through our new product range. We are increasingly focusing on specialization, focusing on sustainable products without additives to appeal to a purchasing power target group. The focus on vegan products reflects the growing trend in this market segment, with our customers also placing increased value on the manufacturing process. Additionally, we will present our products in a younger and more modern packaging to meet the changing preferences of our target group. These strategic steps should contribute to further strengthening our position in the market and continuing our successful course.

Economic Forum: What is your long-term goal for Twardy?

Jana Keym: We aim to continuously expand our product range by developing innovative and high-quality nutritional supplements. The long-term goal for Twardy is to establish itself as a leading brand in the German-speaking area of the nutritional supplements in the pharmacy market, while having a sustainable and positive impact on the health and well-being of consumers.