Omnilife-Chivas plans to reach China, Nigeria and Australia

Mexican businessman Jorge Vergara continues to develop multi-level marketing company Grupo Omnilife-Chivas.

On the first quarter of 2017, the company reported a revenue growth of 11% and a contraction of 21% in their EBITDA operational flow; moreover, the corporation started operations in Russia and plans to reach new markets like China, Nigeria, and Australia in next months.

“During the quarter was consolidated the opening of our distribution center in Russia, it has been an important opening. For us, to begin anew in a country, we had Russia since 10 years ago, retake it and have that kind of reception from the Russian market give us a good prospect,” said José Luis Higuera, company's General Manager.

In a press conference, the executive assured that Chivas TV has been profitable since its launch and that revenues are reinvested in their entirety, so they keep analyzing their growth strategy.

Omnilife-Chivas remarked their plans to reach the Mexican Stock Exchange, as well as to issue stock exchange certificates for about 4 billion pesos in the next 24 months. The company estimates to get to the capital market in 5 years, after their approach with the debt market.

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