- Sales grew by more than $64 million since December 2017 launch of products
- SHRV CEO credits ‘Blue Ocean Strategy’, along with Elepreneur and Elevacity Global subsidiaries, for record performance
- Name change reflects company’s international growth strategy
Sharing Services Global Corporation (OTCQB: SHRV) reported sales of $25.9 million for its fiscal Q3 2018 ended January 31, 2019. Those numbers are $8 million higher than the $17.9 million in revenue reported in the previous quarter (http://ibn.fm/yflX1). SHRV CEO John “JT” Thatch said that the increase was due in part to the company’s implementation of a ‘Blue Ocean Strategy’ in its direct selling market. The company also announced that it has changed its name to Sharing Services Global Corporation to better reflect its international growth strategy (http://ibn.fm/YXZDY).
“Our 2018 Q3 results are continued proof that our ‘Blue Ocean Strategy’ is being implemented and accepted in the direct-selling marketplace,” Thatch said in a news release (http://ibn.fm/07NBw). “At a record-breaking pace, our Elepreneur division continues to execute on our mission to change the direct-selling industry with best-in-class products and services.” SHRV sales have grown by more than $64 million since the December 2017 launch of products through its Elepreneur and Elevacity Global divisions.
SHRV is a Plano, Texas-based diversified holdings company that owns, operates or controls a variety of companies engaged in direct selling through independent sales representatives. It also offers services such as energy, technology and insurance. Its divisions include Elevacity Global LLC and Elepreneur LLC.
In a 14A SEC filing, SHRV said that its recent name change would more accurately reflect the company’s international expansion moves (http://ibn.fm/ChZIB). The company said in the filing that it was planning to grow both organically and by making strategic acquisitions of businesses and technologies. “The company believes there are excellent growth opportunities outside the United States, including in Canada, Mexico, Europe and Asia,” the filing reads.
For more information, visit the company’s website at www.SHRVInc.com
NOTE TO INVESTORS: The latest news and updates relating to SHRV are available in the company’s newsroom at http://ibn.fm/SHRV
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