Reliv looks to the East
supplements company Reliv International is heading for Singapore
with new operations tipped for opening next month.
Already installed in four other areas in the region, this latest move extends the company's presence in the rapidly growing supplement markets in Asia Pacific.
"This new market will complement our growing presence in the Asia- Pacific region and provide substantial opportunities for expanding our distribution network, " said Reliv CEO Robert Montgomery.
In July 2003 the St Louis-based firm announced its intention to expand into Asia, spearheaded by the reception in June of a five-year licence to conduct direct selling in Malaysia. Our operations in Malaysia are off to a fast and exciting start, with the addition of hundreds of new distributors in just our first several months of operations, said the CEO this week.
Reliv, that already operates in Australia and the Phillippines, saw sales at home jump in 2003 as it expanded its network of distributors in the US.
For the first six months of 2003, net sales surged to $36.4 million, an increase of 22 per cent compared to the first half of 2002. Net income for the period stood at $1.89 million, up 74 per cent the previous year.
The company will see this latest move into Asia as an opportunity to continue the double-digit increases in sales reported last year.
