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 6 th 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.”