JRJR Networks

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JRjr33 Inc
Public
IndustryMulti-level marketing
Founded2013
FounderJohn Rochon
HeadquartersDallas, Texas
Key people
John P. Rochon
(Chairman)
John Rochon, Jr.
(Vice Chairman)
Websitewww.jrjrnetworks.com

JRJR Networks, formerly CVSL earlier Computer Vision Systems Laboratories, is an American holding company of multi-level marketing companies.[1] JRJR Networks traded on the NYSE MKT, although was significantly below the required level of capitalization to continue in compliance [2] and was therefore removed from the exchange. JRJR was founded by its chairman, John Rochon, a micro-enterprise pioneer. John Rochon, Jr. is the JRJR Vice Chairman and Chairman of the Investment Committee.

Structure[edit]

The JRJR business currently consists of:

  • Kleeneze, a 95-year old UK-based catalog seller of cleaning, health, beauty, home, outdoor and a variety of other products.
    • Kleeneze collapsed into administration on April 12, 2018, at which time it employed 140 staff over two sites & supplied around 5,000 self-employed distributors
  • Betterware, a UK-based home catalog seller.
    • Betterware collapsed into administration on April 13, 2018.
  • Agel Enterprises, a global seller of nutritional products in gel form. No longer trading.
  • The Longaberger Company, an American maker of handcrafted baskets and other home décor items.
    • Longaberger ceased operations on May 4, 2018 [3]
  • Your Inspiration at Home, a maker of spices and other gourmet food items - currently in Liquidation NZ Companies Office also in Liquidation in Australia
  • Uppercase Living, seller of vinyl expressions, no longer trading.
  • Tomboy Tools, seller of tools designed specifically for women, no longer trading.
  • My Secret Kitchen, UK-based maker of gourmet foods also in liquidation
  • Paperly, a direct seller of personalized stationery and gifts
  • Most of their businesses have ended up in receivership and is therefore a warning on this organisation

The direct selling industry functions through relationship-based commerce. Consultants or other sales force members sell products and services directly to customers. JRJR has acquired multiple direct selling, or micro-enterprise, companies and brought them under a single umbrella.[4]

Each company within JRJR maintains its own identity, leadership and brand while utilizing some shared operational services through a centralized management team. The U.S. management team is headquartered in Dallas, Texas on the 22nd floor penthouse of the Frost Bank Tower. JRJR's European headquarters is in Luzern, Switzerland.

JRJR Networks along with significant shareholder Richmont Holdings, entered into Chapter 11 in June 2018.

History[edit]

In September 2012, John Rochon named a board of directors that included experts in micro-enterprise, and announced his strategy of making CVSL a holding company for building a growing "consumer cloud" virtual community that would connect tens of millions of members.[5]

First to join the CVSL community was The Longaberger Company, which joined in March 2013.[6]

Your Inspiration at Home joined CVSL in August 2013.[7]

Both Tomboy Tools and Agel Enterprises joined CVSL in October 2013.[8][9]

Paperly and My Secret Kitchen both joined the CVSL community in December 2013.[10][11]

Uppercase Living joined CVSL in March 2014.[12]

Kleeneze in the UK joined CVSL in February 2015.[13]

Betterware joined CVSL in October 2015.[14]

CVSL was ranked #84 on the 2015 Direct Selling News Global 100, an annual list of the top revenue-generating multi-level marketing companies in the world.[15] Revenue figures in the 2015 DSA Top 100 list do not include the Kleeneze or Betterware acquisitions.

In December, 2014 CVSL's stock began trading on the NYSE MKT exchange.[16] Representatives from various companies in the CVSL family rang the closing bell at the New York Stock Exchange on August 26, 2015.[17]

In 2018 the group ran into a series of problems, with Longaberger, Betterware and Kleeneze all going into administration.

References[edit]

  1. ^ CVSL:US
  2. ^ FORM 8K - JRjr33, INC.
  3. ^ Longaberger story coming to an end
  4. ^ Coleman-Lochner, Lauren (November 27, 2012). "Rochon Plans to Build Direct--Selling Brands on LVMH Model". Bloomberg. Retrieved 28 April 2014.
  5. ^ "CVSL". Retrieved 22 April 2014.
  6. ^ "Longaberger, CVSL Finalize Agreement". Direct Selling News. March 19, 2013. Archived from the original on 21 December 2016. Retrieved 23 April 2014.
  7. ^ "CVSL Announces Signing of Definitive Agreement to Acquire Your Inspiration at Home". PR Newswire. June 21, 2013. Retrieved 23 April 2014.
  8. ^ "CVSL Announces Closing of Tomboy Tools Transaction". PR Newswire. October 16, 2013. Retrieved 23 April 2014.
  9. ^ "CVSL Announces Completion of Agel Transaction". PR Newswire. October 22, 2013. Retrieved 23 April 2014.
  10. ^ "CVSL and Paperly Finalize Transaction". PR Newswire. December 20, 2013. Retrieved 23 April 2014.
  11. ^ "CVSL and My Secret Kitchen Finalize Transaction". PR Newswire. December 23, 2013. Retrieved 23 April 2014.
  12. ^ "CVSL and Uppercase Living Close Transaction". PR Newswire. March 14, 2014. Retrieved 23 April 2014.
  13. ^ "CVSL and Kleeneze Transaction". PR Newswire. February 6, 2015. Retrieved 6 February 2015.
  14. ^ "CVSL Acquires Betterware, Ltd". PR Newswire. October 15, 2015. Retrieved 13 January 2016.
  15. ^ "2015 DSN Global 100 List". Direct Selling News. April 8, 2015. Retrieved 13 January 2016.
  16. ^ "CVSL Inc. Will Begin Trading On New York Stock Exchange This Friday". PR Newswire. December 3, 2014. Retrieved 13 January 2016.
  17. ^ "CVSL Rings Closing Bell at the New York Stock Exchange". Direct Selling News. August 27, 2015. Retrieved 13 January 2016.

Footnotes[edit]