- Enters $7.7 billion cannabis market with HempFX™ brand
- Signs $250 million contract to supply 41 million pounds of green coffee annually
- International expansion underway; direct marketers derive 50-75 percent of revenues from outside the U.S.
With ventures in coffee and cannabis, Youngevity International, Inc. (NASDAQ: YGYI) is set for a scalability that is already impacting its financial performance. Over the past six years, the company has enjoyed a CAGR of over 40 percent, with revenues rising from $22 million in 2011 to $166 million in 2017. Now, that growth trend has been strengthened; with the launch of its HempFX™ brand, Youngevity is entering the $7.7 billion cannabis market. The new product line will complement the extensive range of lifestyle products already marketed through the company’s direct selling division. Together, the company’s field-to-cup coffee operations and direct selling activities provide Youngevity with a viable platform to boost business to a global scale. Now it’s clear why its executives were ringing the opening bell at the Nasdaq Market Site in Times Square on January 3, 2018.
In a recent interview, Youngevity chairman and CEO Steve Wallach, and President and CFO Dave Briskie, discussed the company’s recent performance and talked about its future plans…
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