IDAHO FALLS — Idaho Falls-based Melaleuca is growing faster than ever.
The company recently celebrated hitting $2 billion in revenue for the first time in late 2017, according to a company news release. In a statement released Tuesday, company leaders say Melaleuca experienced another record-setting year with $2.04 billion in annual sales, eclipsing 2016’s revenues by over $267 million.
Melaleuca is one of a very few companies in America that can claim to have increased its annual revenues in 30 of the last 32 years, and the Wellness Company went from $1 billion in annual sales in 2011 to $2 billion in six years.
Melaleuca will join an elite group of companies with this accomplishment. According to Forbes, only 225 private companies broke the $2 billion mark in annual revenue in 2016. Boise-based grocery store chain Albertsons was the only other Idaho-based company on the list.
Although Melaleuca has always experienced growth, the company has recently enjoyed an era of explosive growth – increasing annual revenues by $874 million, or 75 percent, since 2014.
“We believe rapid growth over the past three years is evidence of a very bright future,” Melaleuca CEO Frank VanderSloot said. “Our products and business model are being enthusiastically embraced throughout the world. Superior, naturally derived products with exclusive formulas backed by scientific evidence are in great demand. And Melaleuca is the world leader in the space.”
VanderSloot also says that over the last decade, the major grocery store chains have placed enormous pressure on their suppliers to lower the price of their products, which has forced those suppliers to consistently lower the quality of their ingredients, leaving a niche for companies like Melaleuca who focus on quality.
“When it comes to health and nutrition, people don’t want to take shortcuts. They want the very best,” VanderSloot said. “Safe, effective and natural products that do a much better job – that is where Melaleuca shines. The whole world wants what we have. And we make it right here in Idaho Falls.”
Officials say the speed Melaleuca is gaining momentum is best illustrated by the amount of time it has taken to reach each $500 million increase in annual sales. It took 19 years from the day Melaleuca started to reach $500 million. It took another eight years to grow an additional $500 million and reach the $1 billion milestone. It reached the $1.5 billion mark five years later, but took only 14 months after that to reach $2 billion.
Because the company’s products are not sold in retail stores, Melaleuca’s business relies solely on word-of-mouth referrals from its customers. For that reason, Melaleuca has dedicated tremendous resources to product research and innovation, developing proprietary formulas that combine the best of science of nature, according to a news release.
One example of Melaleuca’s commitment to cutting-edge nutritional science, and a major driver in the company’s recent success, is the creation of the Peak Performance Pack. A proprietary blend of vitamins and supplements, the Peak Performance Pack has been proven in two separate clinical studies to profoundly improve 25 key health markers, which impact an individual’s overall health, physical performance and quality of life.
“Not only do our products need to be superior to the competitors, but they need to be so good that they become a topic of conversation as well,” said Melaleuca Chief Marketing Officer Scott Hollander. “Thanks to our exceptional products, these discussions are happening everyday across the world.”
As of March 2018, Melaleuca has paid out more than $5.1 billion to those who have referred customers.
In regard to surpassing the $2 billion milestone, VanderSloot said, “It’s important to remember that milestones are not destinations. We are just getting started on our journey. We continue to gain momentum as people use our products and discover their superiority over the grocery store brands.”