Immunotec, a direct-to-consumer company and a leader in the nutritional industry (the “Company” or “Immunotec”), today announced its year-end consolidated financial results for Fiscal 2014. All amounts in this press release are denominated in Canadian dollars unless otherwise indicated.
“We are pleased to report record full-year revenues and Adjusted EBITDA(1) in Fiscal 2014 fuelled by solid growth in our activities outside of Canada and operational leverage,” said Mr. Charles L. Orr, Chief Executive Officer.
“We are currently addressing some challenges related to our recent implementation of value-added taxes (VAT) in Mexico. More importantly, a growing number of consultants and customers throughout the world are experiencing the tangible benefits of Immunotec’s products and the business opportunities provide by our business model,” concluded Mr. Orr.
PERFORMANCE HIGHLIGHTS
Fiscal 2014 consolidated revenues increased 47.5% over the same period
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Organo Gold Turkey Now Open For Business
by Nicole Dunkley • • 0 Comments
OrganoGold, the global gourmet coffee company that caters to consumers’ active lifestyles, recently announced that it has opened operations in Turkey. Paul Jarvis, Regional Vice President of Europe, CIS and Africa, will manage the Company’s activities in the country.
“The opening of Turkey is a significant operational achievement for Organo Gold”, said Bernardo Chua, Founder and Chief Executive Officer of Organo Gold. “In line with our Global Footprint Initiative, Turkey unites the Company’s Asian, European and African operations and allows us to better serve our Distributors and Customers across this diverse and dynamic region.”
Co-Founder and Global Master Distributor Shane Morand added, “Turkey’s geographical importance, booming economy and young demographic complements Organo Gold’s mission, product lines and opportunity.”
It is highly gratifying for Organo Gold to be opening in a country with such a significant
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India’s Chamber of Commerce Seeks MLM Legislation
by Ramya Chandrasekaran • • 0 Comments
Sensing the need to regularise direct selling, the Federation of Indian Chamber of Commerce and Industry (FICCI) has urged the government to provide clarity. Shilpa Gupta, Head – Retail, FMCG, Luxury Gems & Jewellery, Direct Selling, FICCI, shares her views about the potential of this multi-level marketing model and the steps to regularise it.
How do you assess Direct Selling in India?
Direct selling is not new to India. Around the year 1995, many companies started with it; Amway was one of them. But the misfortune is that we only understand direct selling on the basis of one or two companies. In fact, there are so many companies in India today that are following this business model. In India, Direct Selling is a very old model of sales. For example, a cycle rickshaw peddler
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USD 1.1 billion Indian Direct Selling Industry Affected by Lack of Laws
by Ramya Chandrasekaran • • 0 Comments
Often mistaken for Ponzi schemes, the Rs,7200 crore (approximately USD 1.1 billion) direct selling industry has taken a blow in the absence of clear laws.
Gurgaon resident Harpreet Kaur, 49, completed her MPhil in psychology from Delhi University in 1988. But marriage came in the way before she could begin her professional career. She spent years as a homemaker before her brother-in-law introduced her to Amway’s direct selling business in 1998. Today, she and her husband boast of hundreds of distributors in their network, selling products worth over Rs.1 lakh a month. “There was a time when all I did was wait for my husband, who ran an electronics unit in Delhi, to return home. Today, both of us are entrepreneurs, and have flexible work hours,” says Kaur.
There are six million ‘direct sellers’
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Sozo Global Aquires New Technology
by Ted Nuyten • • 0 Comments
SOZO Global, Inc., an entrepreneurial direct selling company headquartered in Austin, Texas, USA acquires the exclusive global rights to distribute the Meridium® product from Bioactives Inc. within the direct selling industry.
SOZO is a healthy products company that is a curator of best-in-class nutritional technologies. Since its inception it has cultivated ingredients to formulate products grounded in science with powerful health-protective properties to help you live a fuller, more youthful life. The next addition to the global product line of SOZO is a 100% natural ingredient that has been clinically shown to have multiple health benefits – Lucedin™ xanthohumol.
Just like SOZO went to the source of the coffee fruit to get CoffeeBerry® extract, SOZO goes inside of a humulus lupulus plant to extract the xanthohumol ingredient. This ingredient works at the
Hot Business News Today
Sozo Global Aquires New Technology
by Ted Nuyten • • 0 Comments
SOZO Global, Inc., an entrepreneurial direct selling company headquartered in Austin, Texas, USA acquires the exclusive global rights to distribute the Meridium® product from Bioactives Inc. within the direct selling industry.
SOZO is a healthy products company that is a curator of best-in-class nutritional technologies. Since its inception it has cultivated ingredients to formulate products grounded in science with powerful health-protective properties to help you live a fuller, more youthful life. The next addition to the global product line of SOZO is a 100% natural ingredient that has been clinically shown to have multiple health benefits – Lucedin™ xanthohumol.
Just like SOZO went to the source of the coffee fruit to get CoffeeBerry® extract, SOZO goes inside of a humulus lupulus plant to extract the xanthohumol ingredient. This ingredient works at the
Hot Business News Today
Baltic direct selling market grew by 2.5% in 2014
by Ramya Chandrasekaran • • 0 Comments
In 2014, the total sales of direct selling industry in the Baltic States grew by 2.5% and exceeded 102,5 million euro (without VAT). Meanwhile, the number of people involved in direct sales increased by 1.5% and it reached more than 128 thousand persons.
In Estonia, the volume of direct sales experienced the biggest growth by 3%, in Lithuania – 2.5% and in Latvia – 2% and was respectively 32.5, 40.4 and 27.5 million euro, while the number of direct sellers (consultants) in Lithuania and Latvia increased by 2% and exceeded respectively 50000 and 44000 persons, in Estonia by 1% up to more than 34500 persons.
“Last year the direct selling market in the Baltic States experienced sustainable growth, while according to the last 3 years compound annual growth rate, direct selling companies experienced higher than
Hot Business News Today
Baltic direct selling market grew by 2.5% in 2014
by Ramya Chandrasekaran • • 0 Comments
In 2014, the total sales of direct selling industry in the Baltic States grew by 2.5% and exceeded 102,5 million euro (without VAT). Meanwhile, the number of people involved in direct sales increased by 1.5% and it reached more than 128 thousand persons.
In Estonia, the volume of direct sales experienced the biggest growth by 3%, in Lithuania – 2.5% and in Latvia – 2% and was respectively 32.5, 40.4 and 27.5 million euro, while the number of direct sellers (consultants) in Lithuania and Latvia increased by 2% and exceeded respectively 50000 and 44000 persons, in Estonia by 1% up to more than 34500 persons.
“Last year the direct selling market in the Baltic States experienced sustainable growth, while according to the last 3 years compound annual growth rate, direct selling companies experienced higher than
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DSAP: Understanding pyramid scams in the Philippines
by Ramya Chandrasekaran • • 0 Comments
About 4 million Filipinos are in direct selling. They have dreamt of being entrepreneurs but do not have the capital. Some have found financial and personal freedom, while others have become victims of pyramiding scams.
The Direct Selling Association of the Philippines (DSAP) shares answers to frequently asked questions about pyramiding companies and those that are legitimate and with sustainable compensation plans.
Question: Using layman’s terms, what is pyramiding and what’s the main difference between legitimate multilevel marketing (MLM) and pyramiding?
Max VP for Asia Joey Sarmiento: Network marketing, or MLM, is a legitimate mode of business wherein products are sold via person-to-person selling instead of the traditional way of selling from a fixed retail location. The objective is to sell products to the end-consumers.
The difference between MLM and direct selling is in the commission
Hot Business News Today
DSAP: Understanding pyramid scams in the Philippines
by Ramya Chandrasekaran • • 0 Comments
About 4 million Filipinos are in direct selling. They have dreamt of being entrepreneurs but do not have the capital. Some have found financial and personal freedom, while others have become victims of pyramiding scams.
The Direct Selling Association of the Philippines (DSAP) shares answers to frequently asked questions about pyramiding companies and those that are legitimate and with sustainable compensation plans.
Question: Using layman’s terms, what is pyramiding and what’s the main difference between legitimate multilevel marketing (MLM) and pyramiding?
Max VP for Asia Joey Sarmiento: Network marketing, or MLM, is a legitimate mode of business wherein products are sold via person-to-person selling instead of the traditional way of selling from a fixed retail location. The objective is to sell products to the end-consumers.
The difference between MLM and direct selling is in the commission