DALLAS, Oct. 8, 2013 /PRNewswire/ -- CVSL Inc. [stock symbol: CVSL] announced today that it will open a European headquarters in Luzern, Switzerland and that it is forming a Swiss company, CVSL AG, to oversee its business in Europe.
Agel Enterprises, which has entered into an asset purchase agreement with CVSL under which CVSL will acquire Agel's domestic and foreign holdings, sells nutritional and skin care products and has an extensive sales presence in Europe and Russia. CVSL's headquarters in Switzerland will help facilitate Agel's European operations, according to John Rochon Jr., CVSL's vice chairman.
"Switzerland is the perfect domicile from which CVSL can manage the growth of our companies in Europe," said Mr. Rochon. "Not only Agel, but eventually the other CVSL companies will benefit from our having a presence in the financial center of Europe. Switzerland's highly favorable business and tax environment make it the best choice for our European operations," he added.
"We believe that having a Swiss presence will be useful for every aspect of our CVSL business. For a company that is serious about European growth, having a location in Switzerland and close proximity to the Swiss financial markets provides important shared advantages," Mr. Rochon added.
About CVSL (www.cvsl.us.com)
CVSL Inc. is an innovative public company pursuing a strategy of gathering together multiple companies in the direct selling, or micro-enterprise, sector. Each company maintains its own separate brand identity, leadership and product line, while achieving efficiencies through sharing of back office resources and best practices.
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SOURCE CVSL Inc.