Thursday, September 20, 2018

Youngevity International, Inc. (NASDAQ: YGYI) Coffee Business Takes to the High Seas, Boosts Profits

  • Two-year contract brings company’s CLR Roasters coffee brand to patrons, crews of international cruise line
  • YGYI CEO appointed to board of directors of Direct Selling Association, a national trade organization representing direct selling industry
  • Q1 2018 revenues rose by 11 percent over Q1 2017 at $43 million, with gross profits increasing to $25 million
  • YGYI enters $7.7 billion cannabis market with HempFX product line
Leading omni-direct lifestyle company Youngevity International, Inc. (NASDAQ: YGYI) is making enviable strides among several sectors of the direct selling industry as it expands its brands and offerings in multiple markets. Among the latest highlights is an expansion into the lucrative cruise line industry with the signing of a two-year contract to provide the company’s CLR Roasters coffee to over 60,000 crew members serving on 60 ships, along with passengers of three luxury cruise ships, a company press release states (http://nnw.fm/X3KMw).
“We are very proud of the footprint we have established in the cruise line industry and this new contract establishes us as a worldwide player in the space. We are hopeful that this relationship will lead to other opportunities among this prestigious operator’s other six cruise line brands,” Ernesto Aguila, president of CLR and founder of the Café La Rica Brand, stated in the news release. “We are quite enthusiastic about this opportunity to expose our coffee and custom blends to such a large organization.”
CLR Roasters LLC is a fully integrated coffee business with multiple brands including Café La Rica, the official “Cafecito” of the Miami Marlins, and Jose’s Java House, a single serve consumer brand. Headquartered in Miami, Florida, CLR Roasters owns two coffee plantations and a wet and dry processing mill located in the high mountains of Matagalpa, Nicaragua, that’s able to process over 30 million pounds of green coffee on an annual basis. Coffee produced by CLR Roasters is certified by numerous organizations to ensure that its exquisite quality, phenomenal taste and environmental sustainability exceeds industry standards, as the company notes on its website
Created through the 2011 merger of Youngevity Essential Life Sciences with Javalution® Coffee Company, today’s Youngevity International Inc. is a virtual worldwide Main Street of products and services under one corporate entity that supports a healthy and empowered lifestyle. Among the Top 100 Global Direct Selling Companies, Youngevity offers products from the six top selling retail categories, including health/nutrition, home/family, food/beverage (including coffee), spa/beauty, apparel/jewelry and a range of innovative services.
Youngevity has also introduced a new line of three proprietary blends of hemp-derived cannabinoid products – Soothe, Relax and Uplift – that gives the company a foothold in the $7.7 billion cannabis market. The company expects to introduce the HempFX (Trademarked) product line to the public soon, with the official launch anticipated to take place by October 2018, a news release states (http://nnw.fm/5mQ6w).
“Hemp-derived cannabidiol aligns with what we do very well,” Steve Wallach, CEO of Youngevity, stated in the news release. “We’ve taken what we know about essential nutrients, along with decades of knowledge specializing in natural, plant-based nutrition and their most beneficial nutrients and put that knowledge to work to develop high-end cannabidiol products.”
As a testament to Youngevity’s success and influence in the direct selling industry, Wallach was recently appointed to the Direct Selling Association (“DSA”) board of directors. With nearly three decades of sales and network marketing experience, Wallach has successfully guided Youngevity from a domestic seller to a worldwide marketer of products and services that support a healthy and empowered lifestyle. Youngevity’s Q1 2018 revenues increased 11 percent over Q1 2017 at $43 million, while total company revenues in FY 2017 were recorded at $165.7 million, according to a July 2018 investor relations fact sheet (http://nnw.fm/rlE80).
“I’m extremely grateful for the opportunity to serve on the DSA Board of Directors,” Wallach stated in a news release (http://nnw.fm/pZK2x). “I look forward to helping advance the association’s global membership initiatives and being at the forefront of positive change in our industry.”
The DSA is a national trade association that represents the direct selling industry and advocates on behalf of its 200-plus member companies. Its board consists of 22 industry leaders who serve as officers and directors, as nominated and elected by their peers. In addition to leading and directing the affairs of the association, board members are charged specifically with promoting the DSA code of ethics. Board leadership also carries government relations, education and research responsibilities.
For more information, visit the company’s website at www.YGYI.com
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