Youngevity International (YGYI—OTCQX) closed out 2016 with record revenue, the lifestyle company announced Thursday.
Annual revenue rose 4 percent to an all-time high of $162.7 million, with 89 percent derived from direct sales and 11 percent from Youngevity’s commercial coffee business. In the direct selling segment, sales rose 5 percent to $145.4 million.
For the year, the California-based company recorded a loss of $398,000, compared with a $1.7 million loss in 2015.
Youngevity made a number of strategic investments in 2016, beyond ongoing acquisition deals, with an eye toward scalable growth. The marketing team led a company-wide rebranding effort and introduced several new product and training videos, available in multiple languages. The company also has invested heavily in new technologies.
“We spent virtually an entire year developing our Web Platform and our Cloud Based Infrastructure to position Youngevity as a platform company,” said CEO Steve Wallach. “We are just now entering the deployment phase of our Web Portal which should allow us to accelerate growth domestically and globally as well as more efficiently integrate future acquisitions.”
Just this month, Youngevity announced two new additions to its direct sales platform, specialty tea and supplement brand RicoLife and BellaVita, which offers food and beauty products inspired by the Mediterranean diet and lifestyle.
The acquisition of BellaVita, with its five Asia offices, raises Youngevity’s profile in the region. The man who led BellaVita as CEO and President, Mike Brosnan, is joining Youngevity in the role of Vice President of Sales and Marketing for Asia, and several other employees are making the transition to Youngevity’s Utah headquarters, where they will continue to serve the Asia market.
