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In addition, our in-house product development capabilities enable us to offer our customers high-quality proprietary merchandise that can only be purchased through our locations or through GNC. Because the nutritional supplement consumer often requires knowledgeable customer service, we also differentiate ourselves from mass and drug retailers with our well-trained sales associates who are aided by in-store technology.
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We believe that our expansive retail network, differentiated merchandise offering and quality, and engaged customer service result in a unique shopping experience that is distinct from that of our competitors. We maintain and make available on GNC. In addition to GNC. In this Annual Report, unless the context requires otherwise, references to "we," "us," "our," "Company" or "GNC" refer collectively to Holdings and its subsidiaries. Corporate History Our business was founded in by David Shakarian who opened our first health food store in Pittsburgh, Pennsylvania.
Since that time, the number of stores has continued to grow, and we began producing our own vitamin and mineral supplements as well as foods, beverages and cosmetics.
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Holdings is a holding company and all of its operations are conducted through its operating subsidiaries. Our Strategy We plan to execute several strategies in the future to promote growth in revenue and operating income and enhance shareholder value including: We are increasing the proportion of our domestic stores that are franchise locations, targeting a balanced portfolio of domestic company-owned and franchise locations over the next three to four years, beginning in We expect to rebalance our portfolio both by increasing the proportion of new stores that are franchise locations and by transitioning company-owned stores to franchise locations.
As part of this effort, we remain focused on creating and nurturing franchise partnerships that support our brand image. We believe that this strategy can result in significant value creation for our stockholders. We remain focused, together with other industry leaders and industry trade associations, on initiatives begun in to build an industry-led coalition aimed at raising the bar for quality and compliance throughout the dietary supplement industry.
We believe that over time, these initiatives will prove beneficial for the industry, for the FDA and other regulators, and lead to substantial improvement in regulatory and consumer trust and confidence in our industry.
In earlywe launched an intensive effort to develop and implement an improved pricing strategy to be applied to all channels. We expect the results of this initiative to be evident beginning in late and beyond. Following extensive consumer research duringwe currently are in the process of reviewing various enhancements to our loyalty program, which currently includes approximately 6.
We believe that further developing and encouraging active customer participation in a robust customer loyalty program is an important step toward our goals for attracting new customers and building meaningful, long-term connections with our customers.
We expect the results of this initiative to be evident beginning in and beyond.
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We expect to continue capitalizing on international revenue growth opportunities through the addition of franchise stores in existing markets, expansion into new high growth markets and the growth of product distribution in both existing and new markets. Competitive Strengths We believe that we are well-positioned to capitalize on favorable industry trends as a result of the following competitive strengths: We believe our broad portfolio of proprietary products, which are available in our locations or on GNC.
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