January 16, 2015
Amway Boosts Business with XS Energy Acquisition
If Amway’s history of building successful brands is any indication, the energy drink segment just got a bit more interesting. This week the industry giant acquired XS Energy, the brand behind Amway’s popular line of nutritious, sugar-free energy drinks. Amway says the move is part of its strategy to connect with young entrepreneurs, who represent a growing number of Amway business owners.
“According to our research, no demographic is more positive about entrepreneurship than those younger than 35, which is the precise target group for the XS brand,” Chairman Steve Van Andel shared in the company’s release. “Bringing Amway and XS together will strengthen our efforts in the years ahead and create more opportunities for aspiring business people.”
Former Amway business owner David Vanderveen co-founded XS Energy in 2001, and Amway became exclusive distributor of the company’s products in 2003. Available in 38 of Amway’s international markets, XS Energy has now topped $150 million in annual sales. With the help of Vanderveen, who has signed on as Vice President and General Manager for the XS brand, Amway is looking to build upon its success in the $27.5 billion energy drink market.