Sharing Services Global Corporation (SHRG) Focuses on Blue Ocean Strategy, Targets Global Markets
- 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://nnw.fm/OSu1J). 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://nnw.fm/S9Nue).
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://nnw.fm/ZqMg9).
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://nnw.fm/ZP0cg).
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
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