- SHRG
plans to focus on growth in Canada and other countries
- The
company’s CEO is targeting new global markets; he credits the company’s
U.S. success to Elepreneur independent sales associates and Elevacity
Global LLC
- SHRG’s
subsidiary scheduled an event in Ottawa prior to its entry into the
Canadian market
Sharing Services Global Corporation (OTCQB: SHRG) is
utilizing its Blue Ocean Strategy in the direct-selling industry as it prepares
to follow up on success in the United States with entry into Canada. The
company plans to build on its recent success through its Elepreneur subsidiary
and an expanded focus on additional international markets.
Earlier this month, SHRG’s Elepreneur division scheduled a special
event in Ottawa as a prelude to entering the Canadian market (http://ibn.fm/X9cN6). In a
filing, SHRG said that it is also seeking to pursue other international markets
with “excellent growth opportunities” in Europe, Mexico and Asia (http://ibn.fm/SigWa).
SHRG CEO John ‘JT’ Thatch credits the financial success of
the company in large part to its independent sales entrepreneurs. These
individuals are part of Elepreneur and are encouraged to employ the Blue Ocean
Strategy of being a leader while creating and capturing a market.
On www.BusinessNewsDaily.com, a co-author of the book Blue
Ocean Strategy, Professor Renée Mauborgne, said that the strategy advises
businesses to seek new markets, lead and “stop competing and start creating.”
She and fellow Professor W. Chan Kim wrote a follow-up book, Blue Ocean
Shift: Beyond Competing, elaborating on the strategy. “The lesson here is
that the best defense is offense, and the best offense… is to make a blue ocean
shift and create your own blue ocean,” Mauborgne added.
Utilizing that model, SHRG has posted sharp fiscal gains.
“Our March revenues are proof that our Blue Ocean Strategy is being well
accepted in the direct-selling marketplace, and we want this growth to continue
within new markets,” Thatch stated in a news release (http://ibn.fm/npsR4).
For March 2019, SHRG reported record sales of $10.4 million.
In the three months ended January 31, 2019, the company’s consolidated net
sales were $25.9 million, as compared to $960,182 in the same period of the
prior year (http://ibn.fm/wD70w).
SHRG is a Plano, Texas-based diversified holdings company
that owns, operates or controls a variety of companies engaged in direct
selling through independent sales representatives. SHRG also offers services
such as energy, technology and insurance. Its divisions include Elevacity
Global LLC and Elepreneur LLC.
For more information, visit the company’s website at www.SHRGInc.com
NOTE TO INVESTORS: The latest news and updates
relating to SHRG are available in the company’s newsroom at http://ibn.fm/SHRG
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