Mannatech Announces Formation of Subsidiary to Serve as Innovation Hub
18 Avril 2023 - 1:00PM
Business Wire
Mannatech, Incorporated
(NASDAQ: MTEX), announced the formation of a new wholly owned
subsidiary that will serve as its innovation hub. After many months
of study and exploration, this subsidiary is introducing the brand
Trulu to the gig economy. The new entity will operate
separately from Mannatech, however, it is integral to Mannatech’s
future. There will be constructive collaboration between the two
entities. We will always nurture, protect and invest in the
Mannatech business that our Associates have been building for 30
years.
Al Bala, Chief Executive Officer, and J. Stanley Fredrick,
Chairman of the Board of Directors of Mannatech Incorporated,
explained the rationale behind forming this new innovation hub.
“Our current business model is 30 years old.
We, like most other businesses in our space, are looking to remain
relevant and capture more market share in the current and future
marketplace.
"We also know, from the data we review, that
the marketplace is most receptive to optimizing health and
well-being through nutritional supplementation. We will continue to
transform certain aspects of the current model," explained Mr.
Bala.
"Our investments in Trulu will not distract
from our responsibilities to Mannatech’s existing business. The
continued global success of Mannatech is our primary focus and
priority! Mannatech makes this possible, and we appreciate the
guidance received from our board of directors and the decisions
they have made to secure our future We are especially excited that
Al Bala will be spearheading this new venture," added Mr.
Fredrick.
"For thirty years Mannatech has provided the
opportunity for our Associates to sell, and our brand represents,
high quality, science-based products in 4 categories: Integrated
Health, Targeted Health, Weight Loss & Fitness, and
Skincare.
“Trulu will focus on two components of
health and wellness. Trulu is a simplified business opportunity for
the rapidly growing gig economy,” said Mr. Bala.
The new subsidiary was imagined to embrace all attributes of the
gig economy models, enhanced affiliate and influencer marketing
while incorporating the best attributes of Mannatech. Some gig
economy companies are already adopting a few attributes of the
direct selling model. We are leading with this new vision to invent
a complimentary pathway to support growth in customer acquisition
and retention, revenue, profits, and value to our existing
stakeholders, shareholders, employees, and Associates. Trulu and
Trulu's Brand Affiliates represent the beginning of a new chapter
in Mannatech’s storied history.
About Mannatech
Mannatech, Incorporated is committed to transforming lives
through the development of high quality integrated health, weight
management, fitness and skin care products distributed through its
global network of independent associates and members. The company
has been operating for more than 25 years with operations in 25
markets^. For more information, visit Mannatech.com.
^ Mannatech operates in China under a cross-border e-commerce
platform that is separate from its network marketing model.
Please Note: This release contains “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933, as
amended, Section 21E of the Securities Exchange Act of 1934, as
amended, and the Private Securities Litigation Reform Act of 1995.
These forward-looking statements generally can be identified by use
of phrases or terminology such as “may,” “will,” “should,” "hope,"
“could,” “would,” “expects,” “plans,” “intends,” “anticipates,”
“believes,” “estimates,” “approximates,” “predicts,” “projects,”
“potential,” and “continues” or other similar words or the negative
of such terminology. Similarly, descriptions of Mannatech’s
objectives, strategies, plans, goals or targets contained herein
are also considered forward-looking statements. Mannatech believes
this release should be read in conjunction with all of its filings
with the United States Securities and Exchange Commission and
cautions its readers that these forward-looking statements are
subject to certain events, risks, uncertainties, and other factors.
Some of these factors include, among others, the impact of COVID-19
on Mannatech's business, Mannatech’s inability to attract and
retain associates and members, increases in competition,
litigation, regulatory changes, and its planned growth into new
international markets. Although Mannatech believes that the
expectations, statements, and assumptions reflected in these
forward-looking statements are reasonable, it cautions readers to
always consider all of the risk factors and any other cautionary
statements carefully in evaluating each forward-looking statement
in this release, as well as those set forth in its latest Annual
Report on Form 10-K, and other filings filed with the United States
Securities and Exchange Commission, including its current reports
on Form 8-K. All of the forward-looking statements contained herein
speak only as of the date of this release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230418005559/en/
Donna Giordano Manager, Executive Office Administration
972-471-6512 ir@mannatech.com www.mannatech.com
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