CVSL

This article is about the holding company. For the logic family, see Cascode voltage switch logic.
CVSL
Public
Traded as OTCQX: CVSL
Industry Direct selling
Founded 2013
Founder John Rochon
Headquarters Dallas, Texas and Luzern, Switzerland
Key people
 John Rochon
(Chairman)
John Rochon, Jr.
(Vice Chairman)
Kay Bailey Hutchison
(Member of the Board of Directors)
Website www.cvsl.us.com

CVSL is a holding company of direct sales companies.[1] CVSL was founded by its chairman, John Rochon, a micro-enterprise pioneer. John Rochon, Jr. is the CVSL Vice Chairman and Chairman of the Investment Committee.

The CVSL community currently consists of Agel Enterprises, a global seller of nutritional products in gel form; The Longaberger Company, an American maker of handcrafted baskets and other home décor items; My Secret Kitchen, UK-based maker of gourmet foods; Paperly, the leading direct seller of personalized stationary and gifts; Tomboy Tools, seller of high-quality tools designed specifically for women; Uppercase Living, seller of vinyl expressions; Your Inspiration at Home, a maker of spices and other gourmet food items, and Golden Girls, international buyer of precious metals and jewelry.

The direct selling industry functions through relationship-based commerce. Consultants or other sales force members sell products and services directly to customers. By bringing multiple direct selling, or micro-enterprise, companies under a single umbrella, CVSL maintains a self-contained network of contacts where social media is combined with commerce.[2]

Each company within CVSL maintains its own identity, leadership, and brand, but utilizes some shared financial and communications services through a centralized management team. The U.S. management team is headquartered in Dallas, Texas. CVSL's European headquarters is located in Luzern, Switzerland.

History

In September 2012, John Rochon named a board of directors that included experts in micro-enterprise, and announced his strategy of making CVSL a holding company for building a growing "consumer cloud" virtual community that connects tens of millions of members.[3]

The first company to join the CVSL community was The Longaberger Company, which joined in March 2013.[4]

Your Inspiration at Home joined CVSL in August 2013.[5]

Both Tomboy Tools and Agel Enterprises joined CVSL in October 2013.[6][7]

Paperly and My Secret Kitchen both joined the CVSL community in December 2013.[8][9]

Uppercase Living joined CVSL in March 2014.[10]

In January, 2014 CVSL signed a definitive agreement to acquire Golden Girls.[11]

Kleeneze in the UK, joined CVSL in February 2015.[12]

CVSL was ranked #99 on the 2014 Direct Selling News Global 100, an annual list of the top revenue-generating direct-selling companies in the world.[13] Note: CVSL's first eight acquisitions were made at various times during 2013, so revenue figures in the DSA Top 100 list only reflect partial-year totals for the company.

In May, 2014 CVSL applied to have its stock listed on the NYSE MKT exchange.[14] Cantor Fitzgerald & Co. will serve as lead book runner for the offering.

Board of Directors

John P. Rochon is the Chairman of the CVSL Board of Directors, with John Rochon, Jr. serving as Vice Chairman. Other members of the Board of Directors include The Honorable Kay Bailey Hutchison,[15] Longaberger CEO Tami Longaberger, Michael Bishop, Kelly L. Kittrell, CFA, Russell R. Mack, William H. Randall, and Julie L. Rasmussen.

References

  1. ↑
  2. ↑ Coleman-Lochner, Lauren (November 27, 2012). "Rochon Plans to Build Direct--Selling Brands on LVMH Model". Bloomberg. Retrieved 28 April 2014.
  3. ↑ "CVSL". Retrieved 22 April 2014.
  4. ↑ "Longaberger, CVSL Finalize Agreement". Direct Selling News. March 19, 2013. Retrieved 23 April 2014.
  5. ↑ "CVSL Announces Signing of Definitive Agreement to Acquire Your Inspiration at Home". PR Newswire. June 21, 2013. Retrieved 23 April 2014.
  6. ↑ "CVSL Announces Closing of Tomboy Tools Transaction". PR Newswire. October 16, 2013. Retrieved 23 April 2014.
  7. ↑ "CVSL Announces Completion of Agel Transaction". PR Newswire. October 22, 2013. Retrieved 23 April 2014.
  8. ↑ "CVSL and Paperly Finalize Transaction". PR Newswire. December 20, 2013. Retrieved 23 April 2014.
  9. ↑ "CVSL and My Secret Kitchen Finalize Transaction". PR Newswire. December 23, 2013. Retrieved 23 April 2014.
  10. ↑ "CVSL and Uppercase Living Close Transaction". PR Newswire. March 14, 2014. Retrieved 23 April 2014.
  11. ↑ "CVSL and Golden Girls Finalize Transaction". PR Newswire. January 23, 2014. Retrieved 23 April 2014.
  12. ↑ "CVSL and Kleeneze Transaction". PR Newswire. February 6, 2015. Retrieved 6 February 2015.
  13. ↑ "2014 DSN Global 100 List". Direct Selling News. May 1, 2014. Retrieved 2 May 2014.
  14. ↑ "Longaberger parent CVSL seeks spot on NYSE MKT". The Columbus Dispatch. May 23, 2014. Retrieved 23 May 2014.
  15. ↑ "Former U.S. Senator Kay Bailey Hutchison Joins CVSL Inc. Board of Directors". PR Newswire. February 18, 2014. Retrieved 23 April 2014.

External links