brand-logo
Subscribe

Rapid Integration of Cannabidiol into Mainstream Wellness Products

by Leave a Comment

Cannabidiol (CBD) is rapidly being integrated into myriad mainstream consumer wellness products around the globe.

According to a new report by CannabisNewsWire:

  • Global cannabis market expected to quadruple to over $63 billion by 2024
  • CBD oil market to grow at CAGR of 39.19 percent through 2021
  • CBD products exploding into a wide variety of product lines
  • Diversified, sales-driven companies expected to outpace standard growth curve

Hemp, a variety of Cannabis sativa and a primary source of CBD, has been used by humans for more than 10,000 years in food, textiles and medicine. The world is again recognizing the therapeutic benefits of hemp extracts, and consumers are embracing cannabis-based products at a breakneck pace. Consumer demand has triggered an explosion of product innovations that range from oils and edibles to pet products and infused beverages.

Amway Welcomes Milind Pant as CEO

by Leave a Comment

Ada, Mich.-based Amway, the world’s largest direct selling company, yesterday announced Milind Pant as its chief executive officer.

Pant joins Amway from Yum! Brands where he was recently president of Pizza Hut International. He will report directly to and hold a seat on Amway’s Board of Directors effective January 2, 2019. This is a new position for Amway, a business that has been family run since its beginning in 1959.

“Milind brings a wealth of experience and enthusiasm to help lead Amway to even greater heights,” said Amway Chairman Steve Van Andel. “We’re confident his leadership and strong track record of driving growth and transformational change will go far in advancing Amway’s focus on empowering entrepreneurs and meeting customer needs with exclusive and innovative products.”

As president of Pizza Hut International, Pant led the international division through growth across Asia, India and Europe while overseeing more than 9,000 Pizza Hut stores outside the U.S. and the advancement of e-commerce and digital strategies. Prior to joining Yum! Brands, he spent 14 years with Unilever in a variety of executive roles, including vice president of Foods for Africa, the Middle East and Turkey.

Amway has been co-led by Van Andel, who has served as Amway chairman since 1995, and Doug DeVos, who has served as Amway’s president since 2002. Both will move to Amway’s Board of Directors where they will serve as co-chairs. Amway, a business started by Jay Van Andel and Rich DeVos, will continue to be family-owned and family-led. The overall management and leadership of the business will be assumed by Pant.

“The Van Andel and DeVos families remain committed to building on our fathers’ legacy of bringing to all people an opportunity to have a business of their own,” said Doug DeVos. “Given Amway’s strong foundation and leadership in the industry, we’ve never been more confident in the business’ future, and we’re excited to welcome Milind to the Amway family.”

Tupperware Brands CFO Poteshman to Retire After 25 Years

by Leave a Comment

Tupperware Brands Corporation recently announced that following a successful 25-year career with the company, Michael S. Poteshman plans to retire from his role as executive vice president and chief financial officer (CFO).

Poteshman will continue in his role until March 1, 2019, following the company’s fiscal year 2018 financial closing process.

Poteshman joined the company’s former parent company, Premark International, Inc. in 1993 and following the company’s spin-off in 1996, he served in various roles including as the company’s controller, head of Investor Relations, treasurer, and as a Group CFO in Europe before becoming CFO in November 2003.

“As Tupperware’s CFO for nearly 15 years, and in his various financial roles at the company prior to that, Mike has been an integral member of our leadership team. His contributions to the company are many and far-reaching,” said President and CEO Patricia Stitzel. “Mike’s expertise has been central to our efforts to grow our global portfolio, expand margins and drive revenue across our business, while also aiding the company in navigating key challenges. In ensuring the company’s financial flexibility, Mike has provided Tupperware the ability to leverage its strong, aspirational brand around the world. Importantly, Mike has built a dedicated and experienced finance team that is strongly positioned to continue executing our financial objectives. On behalf of everyone at Tupperware Brands, I thank Mike for his decades of service and I look forward to continuing to work closely with him during the transition.”

Poteshman said, “It has been a privilege to work alongside the talented and dedicated team at Tupperware for much of my career. I have great confidence in Tricia and the management team’s ability to achieve its strategic and financial goals, and believe the company is well-positioned to capitalize on opportunities for value creation well into the future.”

Tupperware has initiated a search to identify the company’s next CFO and will consider both internal and external candidates with the assistance of Spencer Stuart, a leading executive search firm.

Beth Jackson Named Southwestern’s VP and Corporate Controller

by Leave a Comment

Nashville, Tenn.-based Southwestern Family of Companies recently announced the promotion of Beth Jackson to vice president and corporate controller.

Jackson will oversee the accounting department and be responsible for payroll, accounts payable, tax, audit, budget, general ledger, consolidated financial reporting, cash management and staffing functions. She will also work in tandem with Southwestern Family of Companies’ New Business Development Team, developing the accounting staff to support new businesses within the family of companies.

“I am thrilled to accept this new role, as well as have the opportunity to join the New Business Development Team to help Southwestern Family of Companies achieve our long-term expansion goals,” said Jackson. “Our leadership has set forth exciting plans for growth, and I look forward to supporting new business development to achieve the company’s goal of investing, inspiring and impacting lives worldwide.”

Jackson joined Southwestern Family of Companies in 1996. During her 22-year tenure, she has risen through progressive promotions from senior accountant to accounting manager, assistant controller, corporate controller and now to vice president and corporate controller.

“A dedicated, hardworking member of the Southwestern Family of Companies, Beth will continue to serve as an excellent source of wisdom and expertise to our new business team as we continue to grow our family of companies over the next 30 years,” said CEO Dustin Hillis.

Herbalife Named Corporate Partner for UN Responsible Business Forum

by Leave a Comment

Herbalife Nutrition has been named a corporate partner for the United Nation’s Responsible Business Forum on Sustainable Development 2018.

This is the third consecutive year the Los Angeles based company has supported the UN’s Sustainable Development Goals (UNSDG).

Organized by Global Initiatives and the United Nations Development Programme at Marina Bay Sands in Singapore from October 11–12, the forum will feature Tod Gimbel, vice president of Government Affairs for Herbalife Nutrition Asia Pacific, in two panel discussions. In the first panel discussion on food and nutrition, Gimbel will be sharing about the company’s contributions towards the UNSDGs via its network of Nutrition Clubs around the world. In the second panel discussion on the role of public-private partnerships, he will share about the partnerships that Herbalife Nutrition has forged, to help the health and nutrition industry move forward in achieving the UNSDGs.

“As we gather speed to collectively tackle the key global health issues including rising obesity rates and rapidly aging populations, public-private partnerships will become increasingly important in the drive towards a healthier Asia Pacific region,” said Gimbel. “On this note, Herbalife Nutrition is also partnering with health ministries and other stakeholders around the region to collectively boost public awareness of modern-day health issues, while instilling positive lifestyle habits to transform consumer lifestyles for the better.”

WorldVentures Expands to Mexico

by Leave a Comment

Plano, Texas-based WorldVentures™ recently announced it has begun operation in Mexico.

“Today, we have the vision and leadership to thoughtfully enter into new markets to bring more fun, freedom and fulfillment to people around the world,” WorldVentures CEO Josh Paine said. “And because we have carefully selected servant leaders, more people will have the opportunity to live with purpose and to take advantage of a membership built on highly curated travel experiences.”

The company has offered DreamTrips™ for more than 13 years in the country. Since 2015 alone, WorldVentures has hosted 402 DreamTrips in Mexico, with 13,283 rooms booked in hotels. That accounts for 52,801 total room nights, and 26,381 adults and 2,107 children traveling.

The company also has made a difference in the lives of children and families in Mexico through its non-profit arm, the WorldVentures Foundation, including 17 Voluntours with a total of 650 volunteers participating.

Avon, Disney Team Up to Find Russia’s Next Top Designer

by Leave a Comment

Avon Russia is teaming up with Disney to create a Fashion Academy where designers compete to take training at the RANEOA School of Design.

Budding Russian fashion designers are being offered the opportunity to design their own Disney-inspired fashion collection, which will be sold in Avon brochures in Russia next year. The project offers talented young designers the chance to work with experts from Avon’s own fashion team in a competition shown on TV programme Rules of Style on Disney Channel Russia.

Applicants will submit up to five sketches of their fashion collection, called “Casual Inspired by Disney.” Thirty designers will be chosen, and the competition to reach the final will be shown on Disney Channel Russia until December. In February 2019, the ten finalists will progress to the Fashion Start-Up training, which includes unique master classes, presented by industry leaders. Glamour magazine will give contestants a unique insight into major fashion trends throughout the project and participate in the expert program.

The Fashion Academy project will culminate in a grand fashion show where the contestants will present their final designs. The overall winner will be named and be awarded the main prize—an opportunity to present their collection in the Russian Avon catalogue, which goes to millions of homes.

Mary Kay Foundation Issues $3M in Grants for Domestic Violence Awareness Month

by Leave a Comment

The Mary Kay Foundation℠ recently announced it is awarding $3 million in grants to 150 domestic violence shelters in support of Domestic Violence Awareness Month.

This year’s grant contribution, which includes shelters across the country as well as in Puerto Rico and Guam, brings the Foundation’s total investment in its shelter grant program to $50 million.

“At Mary Kay, we believe in helping women improve their circumstances and live their best lives,” said Michael Lunceford, president of The Mary Kay Foundation Board of Directors. “One in four women will experience domestic violence in her lifetime and it is our responsibility to support the women’s shelters that aid these survivors. At the heart of the Foundation’s work is the shelter grant program, which is actively supported by our independent sales force. We’re proud that our commitment makes such a powerful impact in local communities and in the lives of domestic violence survivors across the country.”

The Mary Kay Foundation was established in 1996 with the overarching purpose of supporting issues impacting women. In 2000, The Foundation expanded to include ending domestic violence as part of its mission. The Foundation is committed to funding the life-saving work of women’s shelters and the annual shelter grant program has helped finance critical needs, including emergency shelter, transitional housing, counseling and legal aid.

Youngevity Launches Two New Hemp Products

by Leave a Comment

Youngevity recently announced the launch of two new hemp-derived cannabidiol (CBD) products: HempFX™ Hydration™ – Sleep and HempFX™ Hydration™ – Pure.

HempFX™ Hydration™ – Sleep is formulated to provide a restful night’s sleep with the health benefits of CBD. HempFX™ Hydration™ – Pure is formulated to provide daily CBD for people of all ages who want organic, full-spectrum CBD.

Both products are tablet-based and intended to be used with Youngevity’s Y-DR8+ proprietary, portable water bottle system. The cannabidiol tablets will be housed above the water line and consumed as the water flows over the tablets. Both products are expected to be available in November of this year.

“This bottle system is intended to provide people with a revolutionary point-of-use water system and enable consumers to customize tap water based upon their health and wellness needs,” said Rick Anson, vice president of Innovation and Emerging Markets at Youngevity. “It is a beverage technology that we expect will have broad consumer appeal and we are extremely excited to combine this technology with the benefits hemp-based CBD.”

Growth of Global Hair Care Market Good News for Direct Sellers

by Leave a Comment

The global hair care market is expected to reach approximately $110.70 billion in 2024.

According to a new report by Zion Market Research titled “Hair Care Market by Product and by Distribution Channel: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017–2024,” the market was valued at around $89.08 billion in 2017 and is expected to grow at a CAGR of slightly above 3.15 percent between 2018 and 2024.

That’s good news for direct sellers like MONAT, which was the first direct selling company to enter the hair market exclusively. Other direct sellers offering hair oils, colorants, shampoos, conditioners, hair styling products and other hair products—such as Amway, Oriflame and Natura—can expect to see increased potential for growth in this segment of their businesses.

Factors influencing the growth of the market include:
  • Increasing number of fashion-conscious users and growing concerns about hair-related problems such as hair loss, hair thinning, grey hair and hair damaging.
  • Uplift in the male grooming patterns will result in flourishing demand for professional products.
  • Growing demand for organic and environment-friendly products.

In the past, the global hair care market has been plagued by numerous factors, including concerns over expensive product cost, the intense competition offered by global and local players and high manufacturing and marketing costs. Due to these factors and others, various industry players are looking for ways that can curtail cost, improve performance and lead to new and advanced product manufacturing offering customer satisfaction. The ease of availability and launch of customized products will be important factors propelling the growth of this market.

Sen. Hatch Lauds Direct Selling at Judicial Hearing

by Leave a Comment

Senator Orrin Hatch, the longest-serving Republican senator in US history, gave a nod to the direct selling channel during a recent judicial hearing.

During the “Oversight of the Enforcement of Antitrust Laws” hearing held on Wednesday—part of the US Senate Judiciary Committee, Subcommittee on Antitrust, Competition Policy and Consumer Rights—the senior senator from Utah, home to nearly 100 network marketing companies, touted the benefits of direct selling.

The comments came during testimony from newly appointed Federal Trade Commission (FTC) Chairman Joseph Simons, who described the FTC’s enforcement of antitrust laws, its advocacy work and the public hearings it is hosting on a variety of competition and consumer protection issues.

During the questioning, Sen. Hatch had the following exchange with Chairman Simons:

SENATOR HATCH: “Mr. Simons, as you know, direct selling is an important industry in Utah and many other states. This industry provides countless people with opportunities to build a business. It is an engine for economic growth. I’ve heard from many industry stakeholders about the need for regulatory consistency. They argue that clear rules are essential to sustaining their business model. In the coming weeks and months will you commit to working with me on this important issue?”
CHAIRMAN SIMONS: “Absolutely, sir.”

To view the video of the hearing, click here. Sen. Hatch’s comments regarding direct selling begin at 01:06:18 and end at 01:06:47.

USANA Named One of Most Trustworthy Public Companies in US

by Leave a Comment

USANA Health Sciences Inc. has been selected by TGF Analytics as one of “America’s Most Trustworthy Public Companies.”

USANA was ranked fourth among small/mid-cap companies with an A+ rating—something only 5 percent of companies researched achieved. The rankings were based on dozens of factors in five key areas: financial governance; environmental, social & corporate governance; quality of earnings; relative risk; and market-implied governance.

“USANA is a company that prides itself on being trustworthy, whether it’s from the overall quality of our products to the information we provide to our investors,” said Kevin Guest, USANA’s chief executive officer. “We are delighted to be recognized for our efforts in building trust with the public and would also like to congratulate the other companies on this prestigious list.”

Since 2009, TGF Analytics has been modeling insights on risk, governance, and performance on publicly traded companies using a blend of market-based, proprietary, and third-party data. This is the first time that TGF Analytics has made its list of America’s Most Trustworthy Public Companies available to the public.

“Trust is a keystone to all good relationships—those between investor and the company in which the investment is placed, between creditors and the recipients of credit, between customers and businesses they patronize, employees and the workplace, suppliers and with whom they contract, and more,” said David R. Koenig, founding principal of TGF Analytics. “Trust affects both our ability to engage in relationships and, in many cases, the cost of maintaining those relationships.”

Topping the list of large cap companies were:
  1. Best Buy Co Inc.
  2. Intuit Inc.
  3. Adobe Systems Inc.
  4. The Home Depot Inc.
  5. Nike Inc.
The top five with market caps below US$5 billion were:
  1. Deckers Outdoor Corp.
  2. Louisiana-Pacific Corp.
  3. UniFirst Corp.
  4. USANA Health Sciences Inc.
  5. Texas Roadhouse Inc.

To see the full list, click here.