Betterware/JAFRA Group Appoints Karalee Mora as Chief Executive Officer of JAFRA USA
Guadalajara, Jalisco, México; November 1, 2022 - Betterware de Mexico S.A.P.I. de C.V. (Nasdaq: BWMX) (“Betterware” or “The Company”) announced that effective November 1, has appointed Ms. Karalee Mora to the role of Chief Executive Officer of JAFRA USA.
Ms. Mora comes to Betterware following 18 years in Direct Selling, where she acquired extensive knowledge of the industry in senior marketing positions at companies such as doTERRA and Perfectly Posh. Most recently she served as Senior Vice President Marketing in Perfectly Posh, where among her many duties, she managed a multi-million-dollar marketing budget; effectively prioritized and allocated resources including ensuring investment delivered an appropriate return; as well as measured success through consistent key performance indicators.
Luis G. Campos, Executive Chairman of the Board, stated, “Karalee is the right leader for JAFRA USA, given she possesses extensive knowledge of the direct selling industry. We look forward to benefit from her leadership and knowledge, which we expect to position JAFRA USA for strong growth.”
JAFRA USA will maintain its focus on mirroring JAFRA Mexico’s business model to improve its fundamentals, transferring successful strategies and improving significant inefficiencies that existed prior to the Betterware acquisition, made in late 2021 that negatively impacted sales force growth, retention and consequently, net revenues. Ms. Mora leadership will be instrumental in delivering on our objective to achieve breakeven results by mid-2023, and she will also lead the initiatives that are expected to achieve improvements over time and deliver net revenue growth and improved profitability by Q3 of 2023, including expanding our demographic reach in the USA from its current focus on the Hispanic market.
Betterware/JAFRA Group has offered Ms. Judith Sanchez, VP General Manager JAFRA USA, a new position as Director of Business Development, initially focused in Central America and subsequently in South America.
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Founded in 1995, Betterware de Mexico is the leading direct-to-consumer company in Mexico focused on offering innovative products that solve specific needs regarding organization, practicality, space saving and hygiene within the household. With the acquisition of JAFRA on April 7, 2022, the Company now offers a leading brand of Direct Selling in the Beauty and Personal Care products industry in Mexico and the United States where it offers Fragrances, Color & Cosmetics, Skin Care and Toiletries. The combined company possesses an asset-light business model with low capital expenditure requirements and a track record of strong profitability, double digit rates of revenue growth and free cash flow generation. Today, the Company distributes its products in Mexico and Guatemala, and with its recent acquisition, it now has gained presence in the United States through JAFRA's portfolio of products.
Released November 2, 2022