Coral Club
 | |
| Company type | Private company |
|---|---|
| Founder |
|
Area served | Worldwide |
| Website | https://ca.coral.club |
Coral Club is an international multi-level marketing[1] company[2] that distributes dietary supplements and health products. In 1998, the company started with the promotion of the flagship product Alka-Mine.[3] Products are manufactured in the US, Canada, Germany, Armenia, Norway, France, Japan, Taiwan, South Korea and Russia. Today the company's branches are present in 35 countries, and the products are delivered to 175 countries.[4][5]
History[edit]
In 1998 the company opened its first office in Toronto, Canada.[6][5]
In 1999 Erik Megrabyan partnered with Leonid Lapp and became a co-owner of Coral Club. Rolf Eriksson, the owner of Alka-Mine worldwide, transferred the exclusive rights to sell Coral-Mine (Alka-Mine) to Coral Club the same year.[4]
In 1999 Royal Body Care, which in 1996 acquired Light Force, founded by Christopher Hills, became the partner of Coral Club.[4]
In November 2000 Coral Club increased its market presence.
In 2008 despite the crisis, the turnover of the Coral Club continued to exhibit steady income growth compared to 2007. In the same year, the company's owners, Leonid Lapp and Erik Megrabyan, arranged the development of the products under their brand exclusively. Coral Club distributor partners increased by 25% in 2008.[7]
In 2020 Coral Club owned 288 offline stores and delivered products to 175 countries. The product range includes more than 170 health, beauty, and home products made in the USA, Canada, Germany, Armenia, Norway, France, Japan, Taiwan, South Korea and Russia. The company also develops programs for maintaining a healthy body. Currently, the assortment includes 11 kits for holistic nutritional support and two programs.[8]
In 2021–2022, Coral Club carried out three major online projects and created its own platform for online events. The total coverage of the company's digital projects amounted to about 3 million people.[9]
Business Model[edit]
Coral Club uses direct selling and network marketing with a multi-level compensation system as a business model and networking. Coral Club's marketing plan gives the possibility to be rewarded based on monthly turnover.[10]
The company also operates an academy to improve the skills of partners.[11][12]
Awards[edit]
- 2006 – mineral composition "ALKA-MINE" was awarded the Medal of Honor "For Contribution to the Nation's Health Strengthening," named after I. I. Mechnikov.[13]
- 2019 – vitamin and mineral complex of new generation Yummy Vits Orange by Coral Club received an international award, "The Innovative Product of the Year".[14]
Owners and management[edit]
Leonid Lapp is the President and founder of the company. Erik Megrabyan is the CEO of Coral Club. He became an associate of Leonid Lapp right after the company was launched.
References[edit]
- ^ "CBA". cba.coral-club.com. Retrieved 25 September 2023.
- ^ Бабаева, Оксана (15 June 2021). "Отношение к БАДам в разных странах мира". Business News (in Russian). Retrieved 5 October 2022.
- ^ "VIDEO: Coral-Club: gli integratori alimentari naturali ed efficaci- Televenezia". Venezia Radio TV (in Italian). 9 October 2020. Retrieved 10 October 2022.
- ^ a b c "Coral Club expansion: from the past to the future". Western Morning News. 22 April 2020. Retrieved 5 October 2022.
- ^ a b Serjaga, Juris. "About Coral Club". BeHealthyEveryDay · Coral Club. Retrieved 11 April 2023.
- ^ "How to avoid becoming a brick of the pyramid? –". globalinvestigationagency.eu. 22 May 2020. Retrieved 5 October 2022.
- ^ "The Multilevel Marketing phenomenon in Russia – Cyprus Today". Cyprus Today. 18 July 2012. Retrieved 7 October 2022.
- ^ "Can dietary supplements help fight stress, improve mood and quality of life? – Ideas and Discoveries". Ideas and Discoveries. 16 April 2022. Retrieved 10 October 2022.
- ^ Хмельницкий, Дмитрий (15 March 2022). "Что происходит на рынке прямых продаж? Тенденции и прогнозы". FINANCIAL MAGAZINE (in Russian). Retrieved 5 October 2022.
- ^ Холодный, Игорь (28 June 2020). "Крупнейшие МЛМ компании: обзор маркетингового плана". Who is Who. Retrieved 7 October 2022.
- ^ "Why do MLM companies require an academy?". Leader Spirit. 21 May 2021. Archived from the original on 7 October 2022. Retrieved 5 October 2022.
- ^ "Making use of an MLM academy as a Marketing Instrument – Nächste Stufe". naechstestufe.com (in German). 21 February 2020. Retrieved 5 October 2022.
- ^ "Вода – это жизнь — Bel.ru". bel.ru (in Russian). Retrieved 7 October 2022.
- ^ "The innovative nutrient delivery system of Coral Club products". Ogres Ziņas. 12 August 2020. Retrieved 7 October 2022.