SALT LAKE CITY, Feb. 20, 2018 (GLOBE NEWSWIRE) -- LifeVantage Corporation (Nasdaq:LFVN) highlighted a host of significant events at its Elite Academy distributor convention in Indianapolis over the weekend.
LifeVantage recently launched Vitality StackTM Packets, a portable version of its successful Vitality StackTM product. The initial cyberlaunch was followed up at Elite Academy with a formal introduction to over 4,500 distributors with training to support the launch. LifeVantage Chief Marketing Officer Ryan Goodwin commented, “This new product further swings the pendulum toward a family of biohacking products that build on and complement each other, rather than toward any single product. The strong distributor response gives us confidence that our product strategy is on trend.”
The Company introduced a new customer acquisition program that will provide a better experience for customers and a potential additional source of revenue for distributors. Currently, LifeVantage sells products exclusively through its network of independent distributors. Beginning in March, new customers in the U.S. will be able to purchase products at LifeVantage’s corporate website and will be auto-assigned to distributors who are new to the company and active in their business following the initial purchase, opening up a new pool of potential customers.
In connection with this new customer program, the Company has created a new mobile app that is scheduled for release in March and that will allow users to conduct any aspect of their business on a single platform anywhere in the world. Powered by artificial intelligence, the more distributors use the app, the more data LifeVantage will be able to gather, aggregate, and, through machine learning, help them become more productive in their business. Ultimately, the app will be able to guide users on what to share, when to share it, and with whom based on that data.
“Our new customer initiative and technology platform are both intended to improve our customers’ experience while providing enhanced business building tools for our distributors,” commented Goodwin. “Our goal this year was to build a technology competitive edge and that goal is being accomplished. I believe some of the biggest strides in the history of our company have been made in just the past few months.”
LifeVantage also updated attendees on its international markets, including its newest market – China – where LifeVantage products were made available this month for the first time ever nationwide via a unique cross border e-commerce model that leverages social marketing.
Additionally, announcements and training revolved around a new rank advancement program known as the Pacesetter Program designed to drive new leaders through the ranks at a faster pace between now and June.
“Today, we have built a completely new platform that removes friction from the sales process, scraps old methodologies, and presents new distributors with a very attractive opportunity,” stated LifeVantage President and CEO Darren Jensen. “The initiatives we announced at Elite Academy, along with the initiatives already launched thus far in fiscal 2018 are intended to generate growth through new products and higher average order sizes; enhanced distributor and customer growth through increased acquisition and retention; and new geographical market opportunities. We are encouraged by the excitement evident among distributors at this past weekend’s event.”
About LifeVantage Corporation
LifeVantage Corporation (Nasdaq:LFVN) is a pioneer in Nutrigenomics – a new science dedicated to biohacking the human aging code. The company is engaged in the identification, research, development and distribution of advanced nutraceutical dietary supplements and skin care products, including Protandim®, a line of scientifically-validated dietary supplements; TrueScience®, a line of Nrf2 infused skin care products; Petandim™ for Dogs, a companion pet supplement formulated to combat oxidative stress in dogs; Axio® Smart Energy Drink mixes; PhysIQ™, a Smart Weight Management System; and Omega+, a 3-in-1 fish oil supplement. LifeVantage was founded in 2003 and is headquartered in Salt Lake City, Utah. For more information, visit www.lifevantage.com.
Forward Looking Statements
This document contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words and expressions reflecting optimism, satisfaction or disappointment with current prospects, as well as words such as "believe", "hopes", "intends", "estimates", "expects", "projects", "plans", "anticipates", "look forward to", "goal", "may be", and variations thereof, identify forward-looking statements, but their absence does not mean that a statement is not forward-looking. Examples of forward-looking statements include, but are not limited to, statements we make regarding our future growth, distributor success and shareholder value. Such forward-looking statements are not guarantees of performance and the Company's actual results could differ materially from those contained in such statements. These forward-looking statements are based on the Company's current expectations and beliefs concerning future events affecting the Company and involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. These risks and uncertainties include, among others, those discussed in greater detail in the Company's Annual Report on Form 10-K and the Company's Quarterly Report on Form 10-Q under the caption "Risk Factors," and in other documents filed by the Company from time to time with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this document. All forward-looking statements are based on information currently available to the Company on the date hereof, and the Company undertakes no obligation to revise or update these forward-looking statements to reflect events or circumstances after the date of this document, except as required by law.
Investor Relations Contact:
Scott Van Winkle
Managing Director, ICR
(617) 956-6736
scott.vanwinkle@icrinc.com
Media Relations Contact:
Chris Taylor
Director of Communications
(801) 432-9170
chtaylor@lifevantage.com