Sales: $1.5 billion
Note: $1.5 billion (estimated for essential oils, home and personal care products). Corporate sales: $1.9 billion
Key personnel: Mary Young, co-founder and chief executive officer; Jared Turner, president and chief operating officer; Mathew French, chief legal and compliance officer; R. Michael Buch, PhD, chief science officer; Lauren Walker, chief supply chain officer; Lee Bowen, chief financial officer; Michael Green, chief information officer; Kelly Case, chief of staff; Wayne Moorehead, executive vice president, global sales and marketing
Major products: Essential oils, home care products, personal care products, OTC products and color cosmetics
New products: 2020 Spring Beauty Bag, Lushious Lemon Foaming Hand Soap, Mascaras (lengthening and volumizing), CBD starter kit, Valor deodorant
Comments: Young Living makes a good living selling essential oils. It is ranked No. 13 (Amway is No. 1) among the 500 largest direct sales companies in the world by Business for Home. Like every other company in The Top 50 and around the world, coronavirus has had a major impact on business. In May, YL told its more than 1,200 employees at headquarters that they could work from home through the end of 2020. Young Living’s work-from-home order began on March 13. During the next two months, the company recorded increases in employee productivity and happiness as workers adjusted to their new, more flexible working environments. Notably, the IT department reported a 25% productivity increase while the sales department saw a 13% increase. The company also estimates that by allowing 95% of the global headquarters workforce to continue working from home, they will eliminate 20,175 pounds of carbon emissions a day. Extending working from home through the end of the year, may eliminate over 3 million pounds of carbon emissions.
“Prior to the current crisis, I didn’t believe in working from home on a regular basis,” said Jared Turner, president and COO of Young Living. “But seeing the positive impact the additional flexibility has had on our employees, their families and the environment has given me a new perspective. I now believe Young Living can be even more successful and innovative as a work from home company.”
Last month, Young Living held a virtual worldwide convention. Young Living One2020 featured workshops to address current challenges including: Happy, Healthy Family—Improving family time, reducing stress and creating a healthier home; Happy, Health Home—Enhancing your natural home and living a harsh “chemical-free” lifestyle; The Science of CBD—Led by Dr. Olivier Wenker, a discussion on CBD and why it has tremendous health benefits and why CBD is a vital component to its product line; Essential Oils 101—Designed for those who are unfamiliar with essential oils’ benefits and how to use them; and Happy Beautiful Me: Skincare—A workshop to discuss the power of essential oils in beauty lines.