Ukraine becomes company’s 24th global market
COPPELL, Texas--(BUSINESS WIRE)--Jul. 8, 2013--
Mannatech,
Incorporated (NASDAQ: MTEX),
the leading innovator and provider of nutritional supplements based on Real
Food Technology® solutions, announced today
the official opening of its Ukraine operation. The opening brings
Mannatech’s total global presence to 24 countries.
The Ukraine launch signifies an important step by Mannatech to extend
its ongoing global expansion into Eastern Europe. Mannatech will be
opening an office and training center in Kiev under the direction of
General Manager Olena Sergeeva, who was hired in January 2013 to help
coordinate the expansion into Ukraine. Ms. Sergeeva’s extensive
knowledge and experience with direct selling will be invaluable in
developing Mannatech’s business in Ukraine. The company held an official
opening event over the weekend on Saturday, July 6th at the
Fairmont Grand Hotel Kiev.
According to the Ukrainian Association of Direct Sales (UDSA), 2013
first quarter retail sales via the direct selling model totaled 1,158
billion USD, up 2.54% from the previous year (2012) with 1,217,000
reported independent distributors, up 3.95% from the previous year.
According to the World Federation of Direct Selling Associations
(WFDSA), as of 2012, more than 1.2 million people participate in direct
sales.
“The direct selling model has had proven success in the Ukrainian
marketplace, particularly in recent years,” said Ms. Sergeeva.
“Mannatech’s message of hope and its solutions for better health, along
with its unique model for rewarding those who help champion the cause to
help address global malnutrition, is an especially attractive and
meaningful offer to the Ukrainian culture.”
Roy Truett, President of International and Chief Operating Officer,
added, “Ukraine is a very important market for Mannatech. We are highly
encouraged by the eager excitement we’ve already experienced during our
pre-launch activities, and we’re now able to build on that strong
foundation. We’re also hopeful about the possibilities that our future
successes in Ukraine could spark in all of Eastern Europe down the road.”
“Our presence in Ukraine is the product of many months of planning and
hard work by our global teams,” said Dr. Robert Sinnott, CEO and Chief
Science Officer of Mannatech. “The Ukraine launch represents a
significant milestone in our global expansion plans. In preparing for
this launch we have built a strong alliance with a network of social
entrepreneurs in Ukraine who believe in our business, our products and
our social cause to fight global malnutrition through our Mission 5
Million (M5M) program.”
As an initial step to opening the market, Mannatech began shipping
limited quantities of their products to Ukraine for consumer consumption
in November 2012 and has already experienced a very promising response
in the Ukrainian marketplace. Mannatech will launch with nine of their
core products: Advanced Ambrotose® (75g), Advanced Ambrotose®
(150g), Advanced Ambrotose® (capsules), Ambrotose AO®,
PLUS™, PhytoMatrix®, Omega-3 with Vitamin D, MannaBears™ and
NutriVerus™ powder.
Individuals interested in Mannatech’s products or exploring its business
opportunity are encouraged to learn more at Mannatech.com.
About Mannatech
Mannatech, Incorporated, develops high-quality health, weight and
fitness, and skin care products that are based on the solid foundation
of nutritional science and development standards. Mannatech is dedicated
to its platform of Social Entrepreneurship based on the foundation of
promoting, aiding and optimizing nutrition where it is needed most
around the world. Mannatech’s proprietary products are available through
independent sales Associates around the globe including the United
States, Canada, South Africa, Namibia, Australia, New Zealand, Austria,
Denmark, Germany, Norway, Sweden, the Netherlands, the United Kingdom,
Japan, Taiwan, Singapore, Estonia, Finland, the Republic of Ireland,
Czech Republic, the Republic of Korea, Mexico and Hong Kong. For more
information, visit Mannatech.com.
Please note: This release contains “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933, as
amended, Section 21E of the Securities Exchange Act of 1934, as amended,
and the Private Securities Litigation Reform Act of 1995. These
forward-looking statements generally can be identified by use of phrases
or terminology such as “intend” or other similar words or the negative
of such terminology. Similarly, descriptions of Mannatech’s objectives,
strategies, plans, goals or targets contained herein are also considered
forward-looking statements. Mannatech believes this release should be
read in conjunction with all of its filings with the United States
Securities and Exchange Commission and cautions its readers that these
forward-looking statements are subject to certain events, risks,
uncertainties and other factors. Some of these factors include, among
others, Mannatech’s inability to attract and retain Associates and
Members, increases in competition, litigation, regulatory changes and
its planned growth into new international markets. Although Mannatech
believes that the expectations, statements and assumptions reflected in
these forward-looking statements are reasonable, it cautions readers to
always consider all of the risk factors and any other cautionary
statements carefully in evaluating each forward-looking statement in
this release, as well as those set forth in its latest Annual Report on
Form 10-K and Quarterly Report on Form 10-Q, and other filings filed
with the United States Securities and Exchange Commission, including its
current reports on Form 8-K. All of the forward-looking statements
contained herein speak only as of the date of this release.
Source: Mannatech, Incorporated
Mannatech, Incorporated
Brett Duncan, 972-471-7367
bduncan@mannatech.com