Top 40 distributor iPROMOTEu (asi/232119) reported sales of $139 million in 2015, up 15.6% over 2014. The company also reported growth in net income, jumping 50.4% year-over-year, and operating profit, which increased 40.3% over 2014.
“The company’s impressive numbers are reflective of our value proposition,” said Ross S. Silverstein, president and CEO of iPROMOTEu, in an interview with Counselor. “First, we continue to attract experienced distributors and salespeople because our platform is, we believe, the very best economic and lifestyle arrangement in the industry. Second, our order financing, discounted vendor pricing, and back-office support enables our affiliates to sell more and earn more.”
Silverstein also attributed his company’s success to its ongoing technology initiatives: internal operations set up to hasten vendor interaction, invoicing and ordering.
“Of course, as iPROMOTEu continues to grow – in number of affiliates, order volume, etc. – we are able to take advantage of operating efficiencies and economies of scale to further boost our earnings,” Silverstein said.
For the first quarter of 2016, Silverstein said that based on order volume being up 26% over Q1 2015, the company is expected to exceed projections for the full year. “If our network of affiliates is representative of the industry as a whole,” he said, “I’m bullish on promotional product sales for the remainder of 2016.”