Amway has had a difficult ride in India with regulatory uncertainty over direct selling. Despite its former India head getting arrested over lack of clarity on what constitutes direct selling, the company continues to be bullish over investing in the country.
The company set up a manufacturing plant in Tamil Nadu last year and wants to achieve a billion dollars in sales in the country. BusinessLine met Douglas L DeVos, President, Amway Inc, on the sidelines of Make in India to discuss the company’s roll-out plans.
Are you convinced about the Make in India story?
Yes. It is gaining momentum. I think the Make in India event here is a pretty solid demonstration of the commitment. The leadership this government is showing is very encouraging.
In 2013 you made a statement that a lot of
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LifeVantage Reports 2016 Q2 Results – Revenue Up 14.6% To $52 Million
by Nicole Dunkley • • 0 Comments
LifeVantage Corporation (NASDAQ:LFVN) today reported financial results for its second quarter ended December 31, 2015.
Second Quarter Fiscal 2016 Highlights:
Revenue increased 14.6% to $52 million on a sequential basis and increased 7.8% compared to second fiscal quarter of 2015;
Revenue in the Americas increased 15.3% and revenue in Asia/Pacific increased 12.4% on a sequential basis, including a 7.3% sequential revenue increase in Japan;
Adjusted EBITDA increased 7.3% to $4.5 million, compared to $4.2 million in the second fiscal quarter of 2015;
Net income was $1.6 million which includes approximately $0.5 million of pretax one-time charges
Executed on strategic growth plan including investments in new product launches and enhanced distributor technology platforms.
“We are pleased to report revenue growth on both a sequential and year-over-year basis, which underscores the early success of our growth plan and gives us confidence
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Younique Opens France Market
by Nicole Dunkley • • 0 Comments
Younique is now signing up Presenters in France, the beauty brand’s third European market.
Lehi, Utah-based Younique is a growing presence across social media feeds, where Presenters host virtual parties showcasing its cosmetic and skincare products.
Most popular is the brand’s flagship product, Moodstruck 3D Fiber Lashes+. The volumizing mascara often appears in customer photos demonstrating its before-and-after effect.
“Once a Younique customer tries Moodstruck 3D Fiber Lashes+, they simply can’t wait to show their ‘one eye with and one eye without’ picture on social media,” said Melanie Huscroft, who founded the company in 2012 with her brother, Derek Maxfield.
“It’s one of those things that is simply too good to keep to yourself!”
This month, Younique is inviting residents of France to join its network of more than 265,000 Presenters. The company’s full range
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Amway Reports Sales of $9.5 Billion In 2015
by Nicole Dunkley • • 0 Comments
Amway Corp. on Wednesday released its 2015 financial results, announcing annual sales of $9.5 billion.
Despite constant-dollar sales growth in 70 percent of Amway’s top 20 markets, revenue fell 12 percent from a year ago, hurt by currency fluctuations and soft sales in China, where the economy experienced its slowest growth in 25 years. The company reported similar trends in 2014, when revenue dropped 8 percent to $10.8 billion.
In 2015, the company’s top 10 markets were China, South Korea, United States, Japan, Thailand, Russia, Taiwan, Malaysia, India and Ukraine. Management also singled out Brazil and Mexico as emerging markets that recorded considerable gains.
“We experienced growth in seven of our top 10 markets, and emerging markets in Latin America and elsewhere continue to perform well,” Chairman Steve Van Andel noted in Amway’s report. “Several
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QNET Parent Company Grabs 3 Awards In Hong Kong
by Nicole Dunkley • • 0 Comments
2015 has been a great year for QNET’s parent company, QI Group Hong Kong. They received 3 prestigious awards in recognition of a multitude of qualities we are so proud of.
To us, these recognitions are not simple trophies collected to line a shelf – they are symbols of their drive, their struggles, their abilities, their efforts, their perseverance and above all else, their excellence. The fact that these awards are always chosen carefully and transparently makes them even more special. They were not given, they were earned.
We were recognised by HR Asia as one of the Best Companies to Work for in Asia – Hong Kong. The Hong Kong office is a pioneer as they are the first QNET Parent Company Office to receive this award! Some of the criteria used
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Network Marketing Veterans Yvonne And Reid Nelson Find Final Home At Zija International
by Nicole Dunkley • • 0 Comments
After a successful 44 years in the network marketing industry, Yvonne and Reid Nelson decided to leave their previous company as one of the top earners and find a company with which they could finish their gratifying career.
After looking at nearly 20 different organizations, the Nelsons tapered their decision down to Zija International based on its reliable and honest reputation, effective products, emphasis on the natural health revolution, and game-changing owner—Ken Brailsford.
In a recent interview, the Nelsons discuss being drawn to Zija International, their extensive experience in the industry, and what Life Unlimited (Zija’s company mantra) truly means to them:
Interviewer (I): What drew you to Zija International?
Reid Nelson (RN): What drew us initially was the owner, Ken Brailsford. He’s an absolute game changer. We’ve been in this industry for a long, long
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Viridian To Accelerate Growth With New Solar Partner
by Nicole Dunkley • • 0 Comments
Viridian’s parent Crius Energy LLC is marking a milestone in the business. The company’s solar energy sales have topped 50 megawatts in the past two years, supplying clean solar power to nearly 7,000 customers.
Crius closed out the third quarter of 2015 with a 90 percent year-over-year increase in megawatts of generating capacity sold, driven primarily by direct selling subsidiary Viridian Energy. The Stamford, Connecticut-based company is looking to accelerate that growth through its partnership with Sungevity, a solar provider with operations in the U.S. and Europe. The contract secures more favorable terms and a higher profile for Crius than a prior agreement with SolarCity.
“The solar energy market represents a high-margin opportunity for Crius, having contributed 10 percent to our EBITDA last year,” Crius CEO Michael Fallquist said in a statement. “We look
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Tupperware Reports Q4 2015 Results – Sales Up 2%
by Nicole Dunkley • • 0 Comments
Tupperware Brands Corporation today announced fourth quarter 2015 operating results. Rick Goings, Chairman and CEO, commented, “We had a disappointing quarter as we lapped a tough comparison and continued to see an impact from economic and political headwinds in many of our units.
While I don’t want to take away from the strong performances in a number of units, our internal actions did not overcome the impact of worse than expected externals in some of our units.”
Goings continued, “Given today’s environment, we’re making some defensive moves to allow us to perform financially and to play better offense in implementing our growth strategies.
We remain confident the strong fundamentals of our business model coupled with these actions will set a path to success for our 3.1 million global sales force, our associates and
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Vemma – FTC Hearing Set For September 15
by Ted Nuyten • • 0 Comments
According to a statement BK Boreyko – CEO Vemma made today on his facebook the Vemma – FTC Case will start on September 15. The Vemma website is back on-line, the affiliate back office is not open.
BK Boreyko says:
“I wanted to give you a short update. The legal team is in place and you’ll be proud of this team as they begin to defend your right to market the finest wellness products on the planet.
A lot has happened in the past week, all without this team and myself being able to stand in front of a judge. Only yesterday were we able to access the home office computers in order for us to produce the data to prepare our defense and prove our innocence.
Because of that, and along with the importance