Mannatech, Incorporated (NASDAQ: MTEX), announced the formation of a new wholly owned subsidiary that will serve as its innovation hub. After many months of study and exploration, this subsidiary is introducing the brand Trulu to the gig economy.
The new entity will operate separately from Mannatech, however, it is integral to Mannatech’s future. There will be constructive collaboration between the two entities. We will always nurture, protect and invest in the Mannatech business that our Associates have been building for 30 years.
Al Bala, Chief Executive Officer, and J. Stanley Fredrick, Chairman of the Board of Directors of Mannatech Incorporated, explained the rationale behind forming this new innovation hub.
“Our current business model is 30 years old. We, like most other businesses in our space, are looking to remain relevant and capture more market share in the current and future marketplace.
“We also know, from the data we review, that the marketplace is most receptive to optimizing health and well-being through nutritional supplementation. We will continue to transform certain aspects of the current model,”
explained Mr. Bala.
“Our investments in Trulu will not distract from our responsibilities to Mannatech’s existing business. The continued global success of Mannatech is our primary focus and priority! Mannatech makes this possible, and we