PEOPLE ON THE MOVE – June
Mark Schissel, Herbalife
Herbalife Nutrition Ltd. has appointed Mark Schissel as chief operating officer. Schissel will oversee worldwide operations for the company as well as global business services, finance, IT and infrastructure, and cyber and global security. Most recently, he served as executive vice president of worldwide operations.
PEOPLE ON THE MOVE – May
Ryan Reigle, Regal Ware
Ryan Reigle has been named president and CEO of Regal Ware Inc. He will succeed his father, Jeffrey A. Reigle, who will become chairman of the board. Ryan Reigle began his career with the company in 2007 and moved up to senior vice president in 2019. He was elected to the board in 2018.
Change is the one thing we can always count on
“The only constant is change,” said Greek philosopher Heraclitus about 2,470 years ago. Wise words that capture the reality of our times.
For the upcoming year, there are many changes we are wondering about in our channel: Will the new administration encourage more regulation of direct selling companies via the Federal Trade Commission or other regulatory bodies?
How will the pandemic influence in-person gatherings and person-to-person selling in the coming months?
Will the vaccine allow us to “get back to normal?” What is normal?
Xcel Brands Inc. today is launching a new digitized business model for Longaberger, transforming the traditional multi-level platform of the artisanal and handcrafted home decor business it acquired in 2019, into a state-of-the-art, peer-to-peer social commerce community with expanded home and lifestyle categories.
“The plan is to become the largest social commerce community in the world,” chairman and CEO Robert D’Loren said in an exclusive interview. “This could be a $1 billion platform in five years. This can be replicated throughout the world. That’s the goal. ” Full story on Forbes.com.
JRJR Networks, parent company of Longabarger, Agel, Betterware and five others, files for bankruptcy
The direct selling company JRJR Networks Brands or JRJR33 LLC has filed for chapter 11 protection in U.S. Bankruptcy Court in Dallas.
The company was the majority owner of eight different direct sales companies, including Longaberger Co., Agel, Kleeneze, Betterware, Tomboy Tools, Paperly, Uppercase Living, and My Secret Kitchen.
In 2013, JRJR Networks Brands acquired a 51.7% stake in Longaberger. The parent company, founded by direct-sales veteran John Rochon, also owns Tomboy Tools, a direct seller of tools for women and Agel Enterprises, which sells a line of nutritional gel products, among others.
In April, JRJR was delisted from the NYSE due to its inability to provide audited financial statements on time. JRJR33 and Longaberger listed between $1 million and $10 million in both assets and liabilities, court papers show. A lawyer representing the companies in the bankruptcy case couldn’t be reached for comment. Judge Harlin DeWayne Hale has been assigned the case, number 18-32124.
Full story at WSJ.com