EBITDA during the third quarter saw a significant increase (50.8% growth) from Q3 2022, reaching $8.45 million. For the first nine months, EBITDA was $27.5 million, a 22.1% increase year over year. 

“The results for the first nine months of 2023 clearly show that our strategic initiatives are bearing fruit, both in terms of sales and profits,” said Valdemaras Gordinskis, LR Group Vice President Global Controlling and Investor Relations. “During the summer months of this year, we supported the sales activities of our partners in selected markets with our ‘Crazy Summer’ campaign. And our innovative products also play a major role in driving the dynamic business development. The launch of our premium health product Mind Master Gold, for instance, has already generated strong demand for subscriptions.” 

The post LR Group Q3 2023 Sales Remain Stable at $70 Million  first appeared on Direct Selling News.

In the first half of 2023, sales reached $152.96 million, compared to $142.76 million in the first half of 2022. EBITDA during the first half of 2023 improved by 12.2% to $16.83 million.  

“Our impressive results in the first half of 2023 show that the strategic measures we have introduced are beginning to bear fruit and that we were able to achieve a predominantly strong performance despite the weaker consumer climate in our sales markets,” said Valdemaras Gordinskis, LR Group Vice President Global Controlling and Investor Relations. “With our introductory programs for newcomers, we have gained many additional partners who want to take advantage of the opportunities offered by a career with LR and build an attractive additional income for themselves. Furthermore, many existing partners have succeeded in further developing their careers. This has significantly contributed to the company’s success in the first half of 2023.” 

LR Group launched in the UK in August 2023 as part of its international expansion strategy and announced plans for focusing on product development and marketing in the second half of 2023. 

The post LR Group Sales Up 9.4% in Q2 2023  first appeared on Direct Selling News.

With this new momentum, the company announced that it plans to enter the UK market in the third quarter of this year. LR Global is already present in 28 countries and expects that this expansion into England, Wales, Scotland and Northern Ireland will represent favorable market growth opportunities with access to the four countries’ population of approximately 70 million people. 

“We’re pleased that the targeted promotion of our partners’ career development is paying off and that LR is back on track for growth in the first quarter of 2023,” said Dr. Andreas Laabs, Chief Executive Officer of LR Health & Beauty SE. “This gives us the momentum to drive the expansion into new markets. With our market entry in the UK, we’re taking the next step in opening up this attractive growth market for LR. Given the excellent market conditions and entrepreneurial culture, we see great opportunities in the UK for the distribution of our health and care products. At the same time, the market entry in the UK enables our partners to successfully grow their careers. On the back of our strong partner community as well as our high-quality products ‘Made in Germany’, we’re positive that LR will do very well here.” 

The post LR Global Sees 5% Year-Over-Year Sales Growth in Q1 2023  first appeared on Direct Selling News.

The Zeitgard Pro is now also the most successful product launch in the company’s history. 

“The fact that the Zeitgard Pro has now also received the German Design Award fills the entire LR team and me with particular pride,” said LR Health and Beauty CEO Andreas Laabs. 

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“We are proud to introduce the new ZEITGARD PRO, a real high-tech product that significantly improves the daily beauty routines of our customers,” said LR Chief Executive Officer Dr. Andreas Laabs. “The entire LR team and I are so confident of our innovation that we have even filed a patent application for the ZEITGARD PRO in Germany.” 

The company enlisted an extensive study that included an independent testing of 60 participants by the Institute Dermatest this year. The study found that the device reduced depth of wrinkles by up to 70% after four weeks of using the Face Smoothing Tool and increased skin density by 41% after eight weeks of using the Body Skincare Tool. 

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Normalized EBITDA for the first half of 2022 was $17 million, down from $23.4 million during the same period last year. 

“In the first half of the year, we have seen that the effects of the war in Ukraine and the consequences of inflation are negatively affecting economic growth,” said Valdemaras Gordinskis, Vice President Global Controlling and Investor Relations of LR Group. “This is accompanied by restrained consumer behavior in the European markets. As LR Group, we were able to ensure the ability to deliver our products in the first half of the year despite the challenges in the supply chain, also thanks to forward-looking procurement management. In addition, we have turned important levers in the company and were thus able to consistently raise cost reduction potentials. We will continue to pay special attention to this in view of the challenging framework conditions.”  

The post LR Group Sees 14.2% Drop in Sales During First Half of 2022  first appeared on Direct Selling News.

The company prepared for future growth by strengthening its capital market capability and establishing LR Health & Beauty SE as the new parent company of the LR Group. Equity capitalization was also significantly improved by reclassifying the shareholder loan as a contribution to the free capital reserve. 

The company is continuing its investment strategies in the digitalization of its business model to better serve its youngest target audiences. The brand’s new LR Connect App, Report Creator, internal social intranet and the Logistics 4.0 project are all components of the company’s digital push. 

“The LR Group developed successfully and further strengthened its market position in 2021,” said Dr Andreas Laabs, LR Global Holding GmbH CFO and COO. “This is reflected not least in the record sales achieved in 2021. Despite the tense situation on the procurement market, we were always able to meet the increased demand for our products. We will continue to pay special attention to forward-looking management of our inventories in view of the disrupted supply chains. On the product side, with the launch of the LR Soul of Nature brand, we managed to expand our portfolio to include a select range of natural essential fragrance blends.” 

The post LR Group Sales Increase 4% in 2021  first appeared on Direct Selling News.

EBITDA for 2021 was up over the previous year to EUR 41.6 million and the company met its fiscal 2021 guidance. 

“We successfully continued our positive business development in 2021 and achieved new record sales despite the challenging market conditions,” said Dr. Andreas Laabs, CFO and COO of LR Global Holding GmbH. “Thanks to the early restocking of our inventories, we were able to meet the demand for our products in the final quarter as usual. Christmas business was very good overall and also raised more than EUR 105,000 for the LR Global Kids Fund as part of our charity commitment. Nevertheless, at the beginning of 2022, we see a continued tense situation on the global procurement market and the trend of rising costs for raw materials and energy. In the course of strict cost and resource management, we will focus our attention on maneuvering the LR Group through these difficult waters in the best possible way.” 

LR Group began its efforts to tap into the Asian market in 2021 with a launch in South Korea, and also expanded its product categories with new fragrance blends and a new fitness brand. 

“In the year under review, we made further progress in creating the structures for the future growth of the LR Group and strengthening our capital market capability,” said Dr. Laabs. “On the one hand, LR Health & Beauty SE was established as the new parent company of the LR Group. Secondly, the shareholder transferred the shareholder loans as a contribution to the free capital reserve of LR Global Holding GmbH in November. As a result of this reclassification, the equity capitalization has improved significantly as of the reporting date.” 

The post LR Group Reaches New Sales Record in 2021 first appeared on Direct Selling News.

“In addition, when developing the products, we made sure they are free from ingredients of animal origin and are therefore also suitable for vegans,” said Katharina Schorez, Head of Marketing at LR. 

LR:GO launches in partnership with Dr. Matthias Manke, an orthopedic specialist and trauma surgeon known for his expertise in sports medicine, who will offer valuable tips. 

“For us, the new brand underlines the faith in an active lifestyle,” said Andreas Friesch, CEO and spokesperson for the management of LR. “This includes a healthy diet and regular training sessions, which are underpinned by the products.”  

The post LR Health & Beauty Enters Fitness Category with New Brand first appeared on Direct Selling News.

The Swedish Financial Supervisory Authority has approved the company’s listing prospectus, and the company will now submit its admission application. LR Global Holding’s first trading day on Nasdaq Stockholm is expected to take place later this week. 

The post LR Global Holding Applies for Admission to Nasdaq Stockholm first appeared on Direct Selling News.