MLM News Report: Truth About Verve Oxyfresh At The Top Of Their Game, FHTM Lawsuit Update, MLM Sales Growth
MLM News Report
Truth About Verve Oxyfresh At The Top Of Their Game,
FHTM Lawsuit Update, MLM Sales Growth
This has been a great week for Direct Selling News, and the Network Marketing community as a whole, read on to see how Multi-Level Marketing is changing lives worldwide.
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A proposed class-action lawsuit against Fortune Hi-Tech Marketing, Inc. (FHTM) was dismissed in Kentucky by a federal judge.
Lexington, KY (PRWEB) February 24, 2012
On Wednesday, the United States District Court Eastern District of Kentucky dismissed a proposed class-action lawsuit against Fortune Hi-Tech Marketing, Inc. (FHTM). The judge ruled in favor of FHTM and all named individual defendants on their motion to compel arbitration. The judge upheld the arbitration clause contained in FHTM’s Independent Representative Agreement, determining that the Plaintiffs had contracted with FHTM, that the contract contained an enforceable arbitration clause for all of the plaintiffs’ claims, and therefore that the case should be dismissed.
FHTM is a direct selling company with a business model that has existed for over 100 years in the United States. The company has been in business for over 10 years and has operated with the highest ethical standards and business practices.
“We feel this is a just and correct decision by the federal court and we are glad that our Independent Representatives can once again conduct business without the challenge of this inappropriate lawsuit. ” said Keith Kuder, Chief Legal Officer for FHTM.
Paul Orberson, President and Founder of FHTM added, “We are excited about this ruling, but, frankly, we trusted the system to get the right result. FHTM is moving forward with the business of doing business.”
Now I was not able to find the actual Judge’s ruling, but I did receive a copy of a draft, where the plaintiffs are going to appeal the Judge’s decision, so this is not over yet.
I also want to direct our viewers over to Ty Tribble’s blog because he has been following this for a while and have some great back story on things.
Direct Selling News wrote a great article on the growth of MLM in Peru, tha tis well wroth the read. To many times we in America seem to forget that Network Marketing/Direct Sales is a live and growing worldwide.
Direct selling is alive and doing well in Peru. The industry, which is the largest category within non-store retailing in the country, has allowed hundreds of thousands of Peruvians to create their own business opportunities, and also helped to reduce poverty. And, according to industry leaders, the future looks bright.
Direct selling started in Peru in the 1960s. When the country’s military government imposed severe restrictions on imports in order to promote and protect local production, one company—Yanbal (currently known as Unique, a manufacturer of cosmetic products)—adopted direct selling as its marketing model, providing women with an opportunity for economic and professional growth that did not then exist. In the following years, Avon, Natura and Belcorp entered the market.
Direct selling grew slowly over the next 40 years. In 2001, an initiative by Avon led to the creation of CAPEVEDI (Camara Peruana de Venta Directa), the Peruvian Chamber of Direct Selling (www.capevedi.com). With the participation of Unique, Belcorp and Natura, CAPEVEDI helped promote the spirit of cooperation between direct selling companies as well as represent the interests of its members to public and private institutions for the development, consolidation and prestige of the business model.
In the following years, direct selling grew quickly. The period between 2004 and 2009 showed the strongest growth—an average rate of 24 percent per year—generating important sources of incomes for more than 350,000 independent entrepreneurs, more than 90 percent of whom were women.
In 2011, the growth of direct selling continued to expand, not only in the capital city of Lima, but also in the provinces, which represent 47 percent of the independent entrepreneurs. Top selling products last year were cosmetics with 25 percent and nutritional products with 18 percent of market participation in direct selling. Within the cosmetics category, direct selling had 57 percent of the market versus 43 percent in retail.
As we have their reports from direct selling industry’s six giants for last year, it’s the time to review and compare their growths. Just like it has been the case throughout the year, we see mixed results at the end of 2011.
The last 5 years’ winner in sales growth is clearly, Natura. Natura increased its sales by 103% in this period! With its 83% growth, Herbalife is a strong second! The slowest of all is Avon, growing at quite modest rates starting from 2008.
It is true that Avon is the biggest of all but at this pace, it should not take too long for other public companies to catch. As an example, while Herbalife’s sales was 22% of Avon’s in 2007, this is 31% as of end-2011. On top of this, Herbalife CEO Michael Johnson announced their “aspirational goal of 10 billion volume points by 2020″. This is more or less equivalent to $8.8 billion sales! On the other hand, Avon is most likely to be overtaken by the end of 2012 by Amway who announced 17% growth in 2011, reaching a turnover of USD 10.9 billion!