SHRG
Industry:
Consumer Goods

DESCRIPTION

Sharing Services Global Corporation sells health and wellness products directly to consumers in the U.S. and Canada under the brand "The Happy Co." Its core products are Nootropics — functional beverages and supplements marketed as mood-enhancing, cognitive-support, and weight management aids — including Elevate MAX Happy Coffee, XanthoMax Happy Caps, and various Nootropic-infused teas and lemonades. The company also sells skincare products and flameless fragrance diffusers. Health and wellness products account for essentially all revenue, with the U.S. generating roughly 95% of sales. Sharing Services operates through a multi-level marketing model, selling products through a network of independent contractor distributors called Brand Partners, as well as through its website. Distributors earn commissions on their own sales and on sales from distributors they recruit. The company has only 32 employees and relies almost entirely on this distributor network rather than traditional retail or advertising. A single supplier accounted for roughly 84% of product purchases in the fiscal year ended March 31, 2024, representing a notable supply chain concentration risk. The company also has a dormant subscription-based travel business, MyTravelVentures, which offers members discounted rates on airfare, hotels, and other travel — but this segment was generating negligible revenue and was suspended pending a relaunch as of the filing date.

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