Network marketing, good model for supplements
during 2003 thanks to good growth of its network marketing
activities in the US and key international markets.
The company, which makes its own line of nutritional and fiber supplements, weight management products and skin care, saw a 24 per cent growth in network marketing sales both in the US and the UK, while sales by its distributors in Canada were up 32 per cent during the fourth quarter compared to the previous year's quarter.
Reliv, which claims to have one of the highest distributor retention rates in the industry, has seen sponsorships grow 15 per cent in the US and 27 per cent in Canada compared to the prior year.
Profits for the year were up 76 per cent to $4.4 million, it reported.
CEO Robert Montgomery said: "It's a simple business model but it really works - as our recent results prove."
The company has recently begun sales to Malaysia, bringing its markets to nine and will move into Singapore shortly. The company reported more than $500,000 in net sales from Malaysia since November.
Other network marketers have also seen good growth this year. Mannatech reported record sales for 2003 last week.
