ViSalus was certainly the buzz of the entire network marketing industry in both 2011 and 2012 as they experienced dynamic growth – the often talked about, mostly elusive ‘momentum’ that every company hopes to experience at least once in their corporate lifetime.
Visalus reported incredible growth to $623.5 million in 2012 revenues versus $230.5 million in 2011, which was up from $34 million in 2010!
However, in a press release by ViSalus majority owner Blyth Inc. dated May 8th, Blythe announced their first quarter results had not only stalled but dropped dramatically:
GREENWICH, Conn. (AP) — Blyth Inc.’s shares sank Wednesday after the direct marketing company reported a 65 percent drop in first-quarter net income and lowered its full-year outlook.
The company, based in Greenwich, Conn., sells candles, home accessories and weight-loss products through home parties and other methods.
The company’s net revenue fell 14 percent to $233.1 million from $270.2 million. The decline was due to lower revenue from its ViSalus business, which includes energy drinks and nutritional products, and its PartyLite home accent business. Meanwhile, revenue from its kitchen gadget and other home product unit, Miles Kimball, improved.
See whole PR here: Blyth lowers full-year forecast; shares fall
Street Insider.com added clarification:
…ViSalus, known for its mission of helping people transform their health and fitness through the Body By Vi™ 90-Day Challenge, announced first quarter 2013 sales of $104.3 million compared to $136.7 million for the same period last year. ViSalus had over 70,000 independent promoters at the end of the first quarter compared to over 92,000 promoters at the end of the prior year’s first quarter.
Will Visalus be able to regain their huge growth? Good companies with great management/ownership have done so before. Expanding Internationally is frequently the key when that happens:
Ryan Blair continued, “We believe that the launch of the New Challenge, coupled with our product development pipeline and the recent opening of the U.K. market, will ensure that there is substantial opportunity for our customers to achieve their health and wellness goals and for our Promoters to build their businesses with ViSalus.”