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 Mannatech’s total global presence to 24 countries.
The Ukraine launch signifies an important step by Mannatech 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. Sergeeva’s extensive knowledge and experience with direct selling will be invaluable in developing Mannatech’s 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. “Mannatech’s 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 we’ve already experienced during our pre-launch activities, and we’re now able to build on that strong foundation. We’re 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 Mannatech’s products or exploring its business opportunity are encouraged to learn more at Mannatech.
About Mannatech
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. Mannatech’s 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.
