LifeVantage Corporation (Nasdaq: LFVN) is a pioneer in Nutrigenomics – a new science dedicated to cracking the human aging code. It was founded in 2003 and its headquarters is located in Salt Lake City, Utah. The company is engaged in the identification, research, development and distribution of advanced nutraceutical dietary supplements and skin care products, including Protandim®, our line of scientifically-validated dietary supplements, TrueScience®, our line of anti-aging skin care products, Petandim™ for Dogs, our companion pet supplement formulated to combat oxidative stress in dogs, AXIO®, our Smart Energy Drink mixes, PhysIQ™, our Smart Weight Management System and Omega+, our 100% natural fish oil supplement. The company just recently added a new product category – an Nrf2 Hair Care System under the TrueScience brand.
Protandim, the company’s flagship product, was first introduced to the consumer market through 15,000 GNC (General Nutrition Center) locations throughout the USA. Sales were modest. Its unique benefits were difficult to communicate through product labelling. After four years, LifeVantage decided to withdraw Protandim from the retail market to focus on network marketing. The withdrawal from retail enabled the company to cut prices by 20% and stimulated sales of $12 million in the first year. As much as all sales combined from the 15,000 retail stores over the previous four years!
This is the power of person-to-person education in action. LifeVantage achieves their monumental sales with just 68,000 distributors worldwide. They have one of the highest ratios of external customers to distributors in the entire industry. LifeVantage generates impressive annual sales with just a handful of products and far fewer distributors than other network marketing companies. Its success in generating real world customers is unprecedented in the industry.
LifeVantage has quickly been able to establish itself as a major player in its sector. The growth of the company is undeniable. The company’s products are sold exclusively through it’s network of independent distributors in the United States, Japan, Hong Kong, Australia, Canada,
Mexico, Thailand, the United Kingdom, the Netherlands, Germany, Austria, Spain, Ireland and Belgium. LifeVantage was ranked 73rd out of the world’s top 100 direct sales companies by the DSA in 2018. In 2018 the company launched an innovative e-commerce model in China and opened 4 new countries for Customer Acquisition – Italy, France, New Zealand and Dominican Republic. In the 3rd quarter of 2019, LifeVantage will expand its network marketing opportunity to France and Greece.
LifeVantage is traded on the NASDAQ stock market. Its success and business practices are transparent. Information about its financial accounts, products, and business are readily available – unlike most other network marketing companies.
LifeVantage gained an experienced leader when Darren Jensen was named President and CEO of the company in 2015. He brings the vision and twenty-six years’ experience that brought his previous company to 100 countries in only four years.
From his first day, Darren has strategically positioned LifeVantage to become the next juggernaut legacy company. Fiscal Second Quarter financial results released on January 28, 2020 underscores his leadership. Lifevantage has seen double-digit revenue increases year over year with First Quarter Revenue of US$61.2 Million. Share prices are up 300% in the twelve months through May 2019.
Darren has assembled a corporate team with a combined global industry experience of more than 300 years. His leadership and forward-thinking will ensure that LifeVantage will continue to pursue a clear strategy of growth in the global marketplace.