Mannatech® Announces Official Opening in Ukraine
Ukraine becomes companys 24th global market
COPPELL, Texas--(BUSINESS WIRE)-- 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 Mannatechs total global presence to 24 countries.
The Ukraine launch signifies an important step by Mannatech (MTEX) 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. Sergeevas extensive knowledge and experience with direct selling will be invaluable in developing Mannatechs 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. Mannatechs 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 weve already experienced during our pre-launch activities, and were now able to build on that strong foundation. Were 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 Mannatechs products or exploring its business opportunity are encouraged to learn more at Mannatech.com.
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. Mannatechs 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 Mannatechs 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, Mannatechs 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.
Brett Duncan, 972-471-7367
Source: Mannatech, IncorporatedCopyright Business Wire 2013