LR Global Holding GmbH, the parent company of LR Health & Beauty, released preliminary figures that show a 5% year-over-year sales increase for the first quarter of 2023. This positive trajectory is a result of a strategic realignment initiative that the company began in summer of 2022.
With this new momentum, the company announced that it plans to enter the UK market in the third quarter of this year. LR Global is already present in 28 countries and expects that this expansion into England, Wales, Scotland and Northern Ireland will represent favorable market growth opportunities with access to the four countries’ population of approximately 70 million people.
“We’re pleased that the targeted promotion of our partners’ career development is paying off and that LR is back on track for growth in the first quarter of 2023,” said Dr. Andreas Laabs, Chief Executive Officer of LR Health & Beauty SE. “This gives us the momentum to drive the expansion into new markets. With our market entry in the UK, we’re taking the next step in opening up this attractive growth market for LR. Given the excellent market conditions and entrepreneurial culture, we see great opportunities in the UK for the distribution of our health and care products. At the same time, the market entry in the UK enables our partners to successfully grow their careers. On the back of our strong partner community as well as our high-quality products ‘Made in Germany’, we’re positive that LR will do very well here.”