Mannatech®Announces Official Opening in Hong Kong
Hong Kong becomes company's 23rdglobal market
COPPELL, Texas--(BUSINESS WIRE)-- 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 Hong Kong operation. The opening brings Mannatech's total global presence to 23 countries.
The Hong Kong launch signifies an ever-growing commitment by Mannatech to its strategic objective of prudent global growth, as well as its ongoing support of its current Asian markets. According to the World Federation of Direct Selling Associations, retail sales in Hong Kong via the direct selling model grew from $307 million (2010) to $406 million (2011) in U.S. currency, with more than 155,000 identified independent distributors in the country. In December 2012, Mannatech initiated order shipments into Hong Kong, serving as the company's first step toward the current launch.
"We are extremely excited about the long-term possibilities of Mannatech Hong Kong," explains Dr. Robert Sinnott, Mannatech's CEO and Chief Science Officer. "Expanding our reach into Hong Kong is an important milestone in Mannatech's journey. It further opens up the horizons to nourish the world with Mannatech's Real Food Technology supplementation, while rewarding and empowering those who help us do it through our global seamless compensation plan. It's equally important for our current base of Mannatech Associates, as well as to all the new Associates we'll meet in the coming months and years in Hong Kong."
"Strategically, the opening of Hong Kong is a significant step for Mannatech," explains Roy Truett, President of International and Chief Operating Officer for Mannatech. "We continue to aggressively explore new opportunities globally, while responsibly executing the launch process to match each market's demand. Given our strength in both our current Asian markets as well as our growing North American Chinese base of Associates, along with the emergence of this market within our industry, Hong Kong is a perfect fit for Mannatech."
Promotional efforts for the Hong Kong opening began several months ago. Pre-launch efforts included focused communication and training with current Mannatech Associates, especially in the existing Asian markets. Multiple media outlets, including print, broadcast media and online channels, will be leveraged within Hong Kong for the remainder of 2013 to further promote Mannatech in this new market.
Individuals interested in Mannatech's products or exploring its business opportunity are encouraged to learn more at Mannatech.com.
Mannatech, Incorporated, develops high-quality health, weight and fitness, and skin care products that are based on the solid foundation of nutritional science and development standards. Mannatech is dedicated to its platform of Social Entrepreneurship based on the foundation of promoting, aiding and optimizing nutrition where it is needed most around the world. Mannatech's proprietary products are available through independent sales Associates around the globe including the United States, Canada, South Africa, Namibia, Australia, New Zealand, Austria, Denmark, Germany, Norway, Sweden, the Netherlands, the United Kingdom, Japan, Taiwan, Singapore, Estonia, Finland, the Republic of Ireland, Czech Republic, the Republic of Korea, Mexico and Hong Kong. For more information, visit Mannatech.com.
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 "intend" 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, 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 Quarterly Report on Form 10-Q, 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.
KEYWORDS: United States Asia Pacific North America Hong Kong Texas
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