NewAge, Inc., Recognized as a Top Revenue Generating Company by DSN Global
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DENVER, April 22, 2021 (GLOBE NEWSWIRE) -- NewAge, Inc., the Colorado-based organic and healthy products company intending to become the world’s leading social selling and distribution company, announced that Direct Selling News (DSN) ranked NewAge, Inc., No. 29 on the DSN Global 100 List of the top revenue-generating companies.
The DSN Global 100 is a collective effort to show the impact and potential of the $180 billion direct selling industry on the world’s economy. With an eligibility requirement of a minimum $100 million in annual sales, the 2021 Global 100 represents the gold standard of achievement and comprises aggregate revenue of more than $64 billion from companies spanning multiple industries based in 17 countries.
The 2021 list, unveiled online at DirectSellingNews.com and to be featured in the June issue of Direct Selling News magazine, recognizes the impact of the direct selling industry in economic and social realms and the performance of the leading global companies. It is a valued and trusted resource for entrepreneurs and other direct selling companies looking to partner with the most successful businesses in the industry.
Gaining growth in all its sectors and business segments, NewAge reached $500 million in proforma net revenue in 2020 versus $254 million in 2019, a growth rate of 98%. NewAge’s Direct to Store segment grew 8.3% organically, its 13th year of consecutive growth, and NewAge’s Direct/Social Selling Segment comprised the bulk of the increase driven by strong organic growth in Europe, the U.S., and Mexico, and the addition of the ARIIX acquisition at the end of the year.
Brent Willis, Chief Executive Officer of NewAge, commented, “Having achieved half a billion dollars in pro forma revenue in four years time is a solid initial accomplishment. Our business model is right on trend, as is our unwavering commitment to healthy products. We have the potential to be a leader in the gig economy and see an unobstructed pathway to transforming the industry and delivering superior, sustainable and profitable growth.”
Mr. Willis continued, “We are honored to be named a top revenue-generating company. We believe that the social selling landscape offers unlimited growth potential for our family of Brand Partners and our shareholders. Our dedicated team of more than 400,000 Brand Partners and consumers is a tremendous source of competitive advantage and growth as e-commerce and social selling continue to disintermediate traditional retail.”
About the DSN Global 100 ListThe Global 100 List offers a unique perspective on the global impact of the industry. Recognition of these companies is the culmination of months of research and the cooperation of many individuals throughout the world. Wherever possible, the DSN team seeks out public records and documents for publicly traded companies and nearly 80 percent of the DSN Global 100 data is compiled from privately held companies.
About New Age, Inc.NewAge is a purpose-driven firm intending to become the world’s leading social selling and distribution company. Colorado-based NewAge commercializes a portfolio of organic and healthy products worldwide through primarily a direct route-to-market system. The company competes in three major category platforms including health and wellness, inner and outer beauty, and nutrition and weight control — leading a network of more than 400,000 exclusive independent distributors and brand partners around the world.
For investor inquiries about NewAge, please contact:
NewAge Investor Relations:Riley TimmerVice President, Investor RelationsTel: 1-801-870-8685Riley_Timmer@NewAge.com
For media inquiries about NewAge, please contact:
NewAge Public Relations:Mindy EardleyPR/Communications ManagerTel: 1-801-573-4818Mindy_Eardley@NewAge.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1eb9b4ac-f455-4ad0-907a-655ceb5de34b
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