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.”