Nerium International is celebrating its five-year anniversary.
The Texas-based skincare company has had one of the fastest entrances in the direct selling channel, joining the DSN Global 100 list of the world’s largest direct selling companies after completing its first full year in business. Last year, the company’s net sales reached $516 million, earning it the No. 38 spot on the list.
Yet Founder and CEO Jeff Olson prefers to celebrate other benchmarks, things such as the company’s growing photo gallery of customer testimonials showcasing their anti-aging results, the 2013 launch of Live Happy magazine and the company’s designation as the largest corporate donor to Big Brothers Big Sisters of America. Olson estimates that more than 70 percent of Nerium’s sales are to people who are not attached to the compensation system and that the majority of the company’s Brand Partners are newcomers to network marketing.
“I said on Day 1 when we set up the company, I didn’t care how fast we hit $1 billion, I just wanted to do it right,” Olson told DSN.
Much of the company’s growth has been domestic. In 2014, the company expanded into Canada and Mexico, and it first ventured outside North America in 2015, when it began operations in South Korea. This summer, Nerium launched operations in Japan, and it is in the process of launching into the Hong Kong and Australia markets before the end of the year. Olson said he expects the pace of international expansion to pick up, with Nerium growing to 15 to 20 total markets and $2 billion in sales within the next five years.
Watch for the complete interview with Olson in the October edition of Direct Selling News.