The Bravo International Growth Award is awarded to the international direct selling company with the highest revenue growth year-over-year. This year the award was given to both a product-focused company and a service-focused company. The product award was given to PM-International for the third consecutive year.
Over the course of three decades, the way people shop has radically evolved. More than that, in-person connections have been thwarted in the face of a shared global public health crisis. To not only survive but thrive, leaders have had to alter their strategies; focus on the evolving marketplace; and transform business as usual into an approach that meets customers where they are and where they want to go. Keeping up and getting ahead of these ever-changing trends means forward-thinking companies not only have to consider expanding their geographical footprints but their digital ones as well.
Investing in this level of innovation has been one of the keys to success for PM-International, a developer of premium products for health, fitness and beauty. Whether it’s developing its FitLine App, which offers independent distributors with a complete back office from their smartphone or its true virtual sales model across 45 countries and 35 subsidiaries, PM-International has illustrated how to capitalize on the present market conditions while investing in the future.
Based in Luxembourg, the company broke through the billion-dollar ceiling in 2019 and has yet to lose steam. This year marks the company’s 30th anniversary, and while that alone is an enviable milestone worth celebrating, PM-International now has an even more impressive feat to add to its reputation: 29 consecutive years of growth.
$2.5 Billion and Beyond
In 2022, PM-International saw seven percent growth in revenue year over year, reaching $2.55 billion in sales and ranking it as the eighth highest earning direct selling company in the world.
The last three years in particular have created a challenging growth environment, but PM- International continued to shine. In 2020, as the shared global health crisis unfurled, Rolf Sorg, PM- International Founder and CEO, rallied his team and emphasized the importance of consistency. As some markets basically shut down and others adopted unique legal regulations for shipping and travel, Sorg implemented a solution-oriented focus that led to quick, proactive decisions and minimal lag time.
That year, the company posted an 88 percent increase in sales within the Americas; a 54 percent boost in overall annual sales; and total revenue of $1.71 billion. In 2021, that number grew an additional 35 percent, reaching an annual revenue of $2.35 billion. In total, the company has sold more than 800 million products.
“My plan from the beginning was to build a company for generations, not just for years,” Sorg shared. “I’m proud of what we have accomplished, but I know that there is still much work to be done. As we look to the future, we will continue to invest in research and development to bring new and innovative products to the market and expand our global reach. But most importantly, we will remain strongly committed to our mission of making a positive impact on people’s lives around the world.”
Taking Smart Risks
Building sustainable growth across three decades has required a strong commitment to the company’s core values and Sorg’s vision. Part of that vision is a pledge to be debt free. Without the pressures of debt and with a high EBITDA, the company has the flexibility to invest profits into new strategies that allow it to stay competitive without threatening the stability of necessary day-to-day operations and overhead costs.
When the company’s pickup locations called Direct Sales Centers (DSCs) had to close during the pandemic, Sorg and his team were able to quickly implement the hiring of thousands of couriers for direct delivery. This was an incredibly expensive task, but it was one that allowed the company to keep its promises to distributors and customers during an uncertain time. Having strong fiscal health gave the leaders the freedom to act quickly, which resulted in satisfied customers and a bolstered reputation.
“We, of course, always think about costs in such situations, but we act in the interest of our distribution partners and customers,” said Wolfgang Klaer, PM-International General Manager International Sales and Support. “They are accustomed to receiving their products on time and reliably. Their satisfaction has had and will in the future definitely have priority. As a family-owned company, it is precisely here that we can take advantage of our strengths.”
PM-International knows how to scale quickly, take smart risks and manage change effectively. With a customer-obsessed model and a shared culture that prioritizes service, the company’s strong record of growth is poised to continue gaining momentum.
DSN congratulates PM-International on three decades of continuous growth and its third consecutive Bravo International Growth Award.
From the June 2023 issue of Direct Selling News magazine.
