LifeVantage is setting its sights on the European Union, with plans to open its first markets in the region early next year. Initially, the company will offer its wellness, skincare and pet care products in the United Kingdom and the Netherlands, LifeVantage said Wednesday.
“The United Kingdom represents one of the fastest growing markets within direct selling, and their distributors are product-oriented business builders who leverage technology to drive their organizations,” CEO Darren Jensen said in a statement. “The Netherlands represents nearly $150 million in retail sales with more than 48,000 distributors in the country.”
As a whole, the EU accounted for nearly $33 billion in retail sales last year,according to industry research by the World Federation of Direct Selling Associations (WFDSA). LifeVantage plans to leverage its business in the U.K. and the Netherlands as a gateway to additional EU countries, with the Netherlands serving as its logistics hub in the region. The company will begin holding business meetings in the two markets in February 2016.
Utah-based LifeVantage currently operates across North America and Mexico, as well as select markets in the Asia Pacific region, including Australia, Japan, Hong Kong, Thailand and the Philippines. The company generated revenue of $208 million in 2014, placing it at No. 67 on this year’s DSN Global 100 ranking.