SALT LAKE CITY, Oct. 28, 2015 (GLOBE NEWSWIRE) -- LifeVantage Corporation (Nasdaq:LFVN), announced today it would expand its operations and distributor network into the European Union beginning with the United Kingdom and the Netherlands. The company intends to begin conducting business-building meetings within the two countries in February 2016.
According to the World Federation of Direct Selling Associations (WFDSA), the European Union represented nearly $33 billion in retail sales in 2014. LifeVantage is taking a deliberate approach to international market expansion, and both the United Kingdom and Netherlands play a critical role for the company to successfully expand into the European Union.
“It is our intent that these are the first of many launches into the European Union countries,” said LifeVantage President and Chief Executive Officer, Darren Jensen. “The United Kingdom represents one of the fastest growing markets within the Direct Selling Association (DSA), and their distributors are product-oriented business builders who leverage technology to drive their organizations. It’s an ideal fit with the culture of our Distributors here at LifeVantage. The Netherlands represents nearly $150 million in retail sales with more than 48,000 distributors in the country. Additionally, the Netherlands will become our logistics hub for the entire region.” Jensen continues, “This announcement is in alignment with our strategic approach of opening gateway markets throughout the world; these two countries are our initial entry into this critical region.”
About LifeVantage Corporation
LifeVantage Corporation (Nasdaq:LFVN), is a science based network marketing company dedicated to visionary science that looks to transform health, wellness and anti-aging internally and externally at the cellular level. The company is the maker of Protandim®, the Nrf2 Synergizer® patented dietary supplement, the TrueScience™ Anti-Aging Skin Care Regimen, Canine Health, and the AXIO™ energy product line. LifeVantage was founded in 2003 and is headquartered in Salt Lake City, Utah.
Forward Looking Statements
This document contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects, as well as words such as "believe", "hopes", "intends", "estimates", "expects", "projects", "plans", "anticipates", "look forward to", “goal”, “ideal fit”, and variations thereof, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Examples of forward-looking statements include, but are not limited to, statements we make regarding our leadership in the global market, future growth and financial performance. Such forward-looking statements are not guarantees of performance and the Company's actual results could differ materially from those contained in such statements. These forward-looking statements are based on the Company's current expectations and beliefs concerning future events affecting the Company and involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. These risks and uncertainties include, among others, those discussed in greater detail in the Company's Annual Report on Form 10-K and the Company's Quarterly Report on Form 10-Q under the caption "Risk Factors," and in other documents filed by the Company from time to time with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this document. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this document, except as required by law.
Company Relations Contact: John Genna (801) 432-9172 Vice President of Communications & Corporate Partnerships Investor Relations Contact: Cindy England (801) 432-9036 Director of Investor Relations -or- John Mills (646) 277-1254 Partner, ICR INC