- Elevacity, SHRV’s health-and-wellness division, helps drive record sales; industry association reports that wellness is the single largest global and U.S. direct-selling category
- Direct selling worldwide is projected to reach $163.1 billion by 2020, with a CAGR of 4.9 percent; SHRV is expanding its direct selling efforts into more countries
- SHRV is pursuing international expansion, entering a joint venture agreement to market its Elepreneur brand and products in Asia
Sharing Services, Inc. (OTC: SHRV) has reported that the debut of its Elevacity health-and-wellness division helped drive its $2.4 million record in gross sales for March, doubling its total sales in February (http://ibn.fm/jYfrS). The World Federation of Direct Selling Associations (WFDSA) reports in its latest statistics that wellness was the single largest global and U.S. direct selling category in 2016, with a 35 percent market share (http://ibn.fm/ZUV3Y). Wellness also owns the largest direct sales share in the Asia/Pacific market (42 percent), North America (35 percent) and Western Europe (35 percent).
SHRV’s record March sales were driven by the combined success of its go-to-market strategy and its Elevacity division, the company said. Elevacity’s wellness products include the Timeless line of skincare products for men and women, Vitamin Patches that are designed to generate energy and anti-aging Elier Mud.
SHRV, based in Plano, Texas, is a diversified holding company that owns, operates or controls a variety of companies engaged in direct selling through independent sales representatives. It also offers services such as energy, technology and insurance. SHRV is expanding direct selling internationally. Earlier this year, it finalized a joint venture with Hong Kong-based Health Wealth & Happiness Ltd. (“HWH”) to expand the Elepreneur Brand and sell its products throughout Asia (http://ibn.fm/CUkUC).
Worldwide, direct selling is projected to reach retail sales of $163.1 billion by 2020, with a CAGR of 4.9 percent, according to Euromonitor International Ltd., as quoted in an article by FinancialBuzz.com (http://ibn.fm/0H0JQ).
For more information, visit the company’s website at www.SharingServicesInc.com
