Nu Skin Enterprises announced its strategic investment arm, Rhyz, Inc., has purchased Mavely, a social commerce platform that drives new customer acquisition for direct-to-consumer and retail brands by leveraging social shopping and proprietary technology to convert everyday consumers into a social salesforce. Mavely will continue to operate independently as its own entity, but will now also be able to tap into the resources and global infrastructure of its new multibillion-dollar, publicly traded owner.
Through Mavely, Nu Skin will have access to a scalable alternative customer acquisition channel that has been largely untapped, offering new cross-channel features to Nu Skin’s affiliates.
“Nu Skin is well positioned to take advantage of the rapid growth in social commerce, and we look forward to partnering with the team to help drive their business and tap into their global reach as we continue to scale,” said Evan Wray, Chief Executive Officer and Co-founder of Mavely. “By bridging the gap between brands and social commerce companies, Mavely is unearthing a massive new acquisition channel and reshaping the future of social selling in the process.”
As part of this acquisition, Nu Skin will have a branded social sharing app that will expand distributor reach across platforms while providing a personally curated, socially enabled storefront to give customers an improved shopping experience.
“We’re confident this technology will help simplify and supercharge social selling for millions of Nu Skin brand affiliates,” said Ryan Napierski, President and Chief Executive Officer of Nu Skin. “The Mavely team shares our vision of empowering people to be passionate advocates for brands they love. Mavely’s advanced social commerce platform will help accelerate our progress toward this vision, further support our areas of growth, and allow our brand affiliates to quickly and easily share our innovative beauty and wellness solutions.”