Jeunesse Global - Executive of the Year
Company: Jeunesse Global, Orlando, FL
Company Description: Jeunesse is a billion-dollar global direct selling company with a mission to positively impact the world by helping people look and feel young, while empowering each other to unleash their potential. The company’s skin care and nutritional products are made in the USA exclusively for Jeunesse and make up a comprehensive Youth Enhancement System. Jeunesse operates in over 100 markets worldwide.
Nomination Category: Management Categories
Nomination Sub Category: Executive of the Year - Consumer Products - Non-Durables
Nomination Title: Randy Ray, Jeunesse Co-Founder and CEO: Believing the Impossible
Tell the story about what this nominated executive has achieved since January 1, 2016 (up to 650 words). Describe the impact he or she has had on your organization. Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms.
Not many would guess that a man who grew up so impoverished that he didn't own shoes and ate mud pies to stave off hunger pains would have an unshakable belief in his future. But that belief is just what lifted Randy Ray out of poverty to become a successful entrepreneur and now the leader of a billion-dollar direct selling company.
The son of a sharecropper, Randy grew up in deep poverty in western Tennessee. Despite a severely disadvantaged youth Randy held a strong belief that he was destined for success, frequently speaking about the day he would become a millionaire. This belief helped him break free from poverty to attend college, majoring in computer science, and later design a computer system used to launch NASA shuttles. True to his belief, Randy became a millionaire at the age of 32.
As the award-winning CEO of Jeunesse, Randy has lead a talented executive management team with the same heart and grit that lifted him out of poverty to become a successful business owner and compassionate leader.
Having achieved billion-dollar annual sales the year prior, the challenge for Randy in 2016 was to keep the momentum going. The company’s growth has earned Jeunesse a spot on the Inc. 500/5000 list of fastest-growing private companies in America for the past three years. In 2016, Jeunesse ranked #481 on the Inc. 500 with a three-year growth rate of 791%. Jeunesse was the only direct selling company to make the Inc. 500 last year. This growth is particularly impressive for a company of its size. Jeunesse was the only billion-dollar company on the Inc. 500 last year, and is one of just nine billion-dollar companies to ever appear in the top 500 in the list’s 35-year history.
In addition, the company’s growth clearly outpaces that of the top-tier direct selling companies. Having steadily climbed the ranks of the Direct Selling News Global 100, Jeunesse is among the top 20 direct selling companies in the world, ranked at #18. Despite being among the largest companies in the industry, Jeunesse continues to enjoy growth that outpaces that of the top direct selling companies and the industry.
In 2016, Jeunesse grew 28% compared to the 3% to 5% estimated growth for the industry. Evaluating data from 2015 (the most recent year where complete industry figures are available), Jeunesse grew over 160%, while, on average, the other top companies declined approximately 2%. Only six other companies in the top tier achieved growth, ranging from 2% to 47%. Worldwide, direct sales grew by an estimated 7.7%. Looking at sustained growth, Jeunesse outpaces the industry with a three-year compound annual growth rate (CAGR) of 342.3% vs. the industry CAGR of 7.2%.
Exclusive, in-demand youth enhancement products, a savvy international expansion plan and investments in global infrastructure poised Jeunesse for growth from the beginning. The company has established operations in over 140 countries with 32 offices worldwide. This global footprint has been the catalyst for the company’s continued growth as established markets around the world continue to develop. The top growing markets in 2016 were Brazil (966%), Italy (103%), Philippines (91%), Russia (63%) and Thailand (41%).
Strategic new product development has also contributed to company growth. In 2016, Jeunesse launched two new consumer products to complement its Youth Enhancement System™, adding to its Luminesce® premium skin care with Flawless Skin Brightener and to its supplements rage with M1ND™, an exclusive product featuring ingredients that support memory and help reduce mental distraction.
While extremely pleased with the success achieved in the first seven years, Randy is focused on the future with strategic plans that support international and domestic growth, including rolling out existing products into global markets and supporting its brand-new NV™ line of micro-mist foundations which launched in February, marking the company’s entry into the $62 billion cosmetics industry.
In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this nominated executive since the beginning of 2016.
• Increased annual sales by $310 million to $1.41 billion (a 28% increase)
• Moved up 83 spots on the Inc. 500 list of fastest-growing private companies in America to rank #481
• Reached $3 billion in cumulative sales
• Outperformed industry growth by 25%
• Ranked in the top 10 privately held direct selling companies in the world
• Ranked in the top 20 direct selling companies in the world, jumping 20 spots on the DSN Global 100 from #38 to #18
• Ranked in the top 10 direct selling companies (public and private) in North America, moving up 10 spots on the DSN North America 50 list from #19 to #9
• Ranked as the second-fastest growing direct selling company
• Ranked for a third consecutive year on the DSN $100 Million Growth Club list
• Received Gold Stevie Awards for Fastest-Growing Company of the Year in the American Business Awards and International Business Awards