Essentially Yours Industries Review and Profile
Overview, company details, product information, news, events, rankings and Rep listings for Essentially Yours Industries.
Essentially Yours Industries Overview
Essentially Yours Industries no longer appears to be active as a direct sales company.
Essentially Yours grew into a substantial nutritional-products MLM before financial losses, litigation, and regulatory reporting failures brought the operation to an end.
Original Npros business profile for Essentially Yours Industries, preserved below for archival purposes:
Essentially Yours Industries began in Surrey, British Columbia, in December 1995, with Jay Sargeant among its founders. The Canadian parent established a Nevada subsidiary in March 1996 to support U.S. operations. On June 30, 2002, the business completed a merger with Nevada shell company Burrard Capital, which adopted the Essentially Yours Industries name and acquired the company's distributor agreements, customer base, product rights, and sales operation. The publicly traded parent later changed its name to EYI Industries Inc., while Essentially Yours Industries continued as its principal operating subsidiary.
The company marketed nutritional supplements, weight-management products, cosmetics, and personal-care products. Its best-known product was Calorad, a liquid collagen supplement that historically generated more than 90% of the Canadian company's net sales. By June 2002, the catalog contained approximately 40 productsâ€"25 dietary supplements and 15 cosmetics or personal-care productsâ€"including Agrisept-L, Oxy-Up, Triomin, Noni Plus, and Iso-Greens. The line later expanded to include Code Blue water-filtration systems and the Ultimate ME2 automotive fuel additive.
Essentially Yours sold through independent representatives known as Independent Business Associates, or IBAs. Company filings in 2002 reported a database of more than 400,000 IBAs, although only about 15,000 were classified as active because they had purchased products during the preceding 12 months. More than 5,000 participated in the company's monthly autoship program. The Canadian operating company reported revenue of $27.78 million and net income of $264,324 for the fiscal year ended July 31, 2001.
IBAs could earn retail profits and commissions based on product volume generated within their recruited organizations. To qualify for commissions, a participant opened one or three "Business Centers," placed an initial 100-business-volume order, made two qualifying personal sales to people who also became IBAs, and paid a $40 annual administration fee. Each Business Center then required 20 business-volume points per month, commonly maintained through autoship. The plan contained six cumulative commission steps ranging from $125 to a total of $1,875 per Business Center, after which the cycle reset. Company materials promoted potential commissions of as much as $1,875 per week for each qualified Business Center.
The company became involved in federal litigation over its Code Blue "Precious Metals" profit-sharing program. Participation packages ranged from $1,015.15 for Bronze to $5,030.80 for Platinum. Participants received water-filtration systems for resale, downline commissions, and eligibility for distributions from a pool funded according to worldwide Code Blue sales. On May 13, 2008, the U.S. District Court for the Western District of Michigan ruled that the program constituted a security under the Securities Act of 1933. The court subsequently certified federal and state classes covering at least 102 purchasers. The class-certification decision addressed whether the claims could proceed collectively and did not itself establish final damages against the company.
Essentially Yours was also named in a Texas sales-tax case involving a $160,278.98 audit deficiency for the period from July 1998 through June 2001. The State of Texas and approximately 170 local government entities sued the Nevada subsidiary, but the trial and appellate courts determined that the sales had been made by the Canadian parent rather than the entity named as defendant. The Texas Court of Appeals therefore affirmed a take-nothing judgment in favor of the Nevada company on August 22, 2008. The ruling concerned the identity of the responsible taxpayer and did not determine that the underlying sales were exempt from taxation.
Essentially Yours Industries Owners, Executives and Executive Consultants
Jay Sargeant President and Chief Executive Officer
Dori O'Neill Executive Vice President and Chief Operations Officer
Donna Keay Chief Financial Officer
Janet Carpenter Vice President Product Development
Essentially Yours Industries News
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