03.02.15
Advancing its strategy of connecting with young entrepreneurs, Amway, Ada, MI, has acquired the XS Energy brand, co-founded by former Amway business owner David Vanderveen, who will become vice president and general manager for the brand.
The acquisition links Amway more directly to the rapidly growing energy drink segment, which expanded from a $3.8 billion global business in 1999 to $27.5 billion in 2013 and is expected to grow annually by 13% until 2018, according to Euromonitor and Research and Markets.
XS has made its name appealing to younger consumers through successful parties, a focus on adventure and the seamless combination of work and play—traits that are increasingly essential for job satisfaction in the under-35 segment.
Amway has been the exclusive distributor of XS since 2003, during which time the brand has grown to $150 million in sales each year and is now in 38 markets around the world.
The acquisition links Amway more directly to the rapidly growing energy drink segment, which expanded from a $3.8 billion global business in 1999 to $27.5 billion in 2013 and is expected to grow annually by 13% until 2018, according to Euromonitor and Research and Markets.
XS has made its name appealing to younger consumers through successful parties, a focus on adventure and the seamless combination of work and play—traits that are increasingly essential for job satisfaction in the under-35 segment.
Amway has been the exclusive distributor of XS since 2003, during which time the brand has grown to $150 million in sales each year and is now in 38 markets around the world.