Betterware de Mexico Announces Leadership Changes to Support Growth in Jafra

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Betterware de Mexico announces organizational changes to support Jafra's expansion into new markets. Mari Loli Sánchez-Cano becomes South America Expansion Director, Virginia Cervantes becomes North America Region Director, and Pilar Sanchez is promoted to Managing Director of Jafra Mexico. Karalee Mora has left the company.

GUADALAJARA, Mexico, Nov. 6, 2023 /PRNewswire/ -- Betterware de Mexico S.A.P.I. de C.V. (NASDAQ: BWMX), ("Betterware" or the 'Company"), announced today organization changes in support of Jafra's future growth and upcoming expansion into new markets. 

Betterware de Mexico is pleased to announce the following appointments effective January 1, 2024:

Mari Loli Sánchez-Cano, who has served as Jafra Mexico's Managing Director for the past 18 years and as a member of the Betterware Board since June 6th, 2023, will be taking on new responsibilities within the organization as the South America Expansion Director. She will oversee the expansion into the South American markets where the company will initially enter Peru and Colombia. Ms. Sánchez-Cano possesses over 30-years' experience with the company and her business acumen, proven track record, and leadership skills will be highly valuable as we accelerate our international expansion. She will report directly to Mr. Luis Campos, Executive Chairman of the Board.

Virginia Cervantes, Director of Commercial Planning for Mexico and the United States will become the new North America Region Director, leading the markets of Mexico, the United States and, eventually Canada. Ms., Cervantes will report to Mr. Luis Campos, Executive Chairman of the Board. Virginia has made significant contributions since joining Jafra in July 2023 and has extensive experience in Marketing and Innovation in Mexico, Latin America, United States and Europe, having worked with global consumer companies such as Kraft Foods, Avon Cosmetics, The Kellogg Company and PepsiCo.

Pilar Sanchez, Commercial Director of Jafra Mexico since July 2023, will be promoted to Managing Director of Jafra Mexico, filling this role previously held by Mari Loli Sanchez-Cano who is being promoted to South America Expansion Director as previously mentioned. As part of the North America Region, Ms. Sanchez will report directly to Virginia Cervantes. Pilar has immersed herself into the business since joining the company in July 2023 and comes to the Company with significant experience in Commercial areas having held leadership positions in Sales, Marketing and Innovation for multinational companies such as Cargill, PepsiCo and Mondelez International, and overseeing countries like Brazil, Argentina, Colombia and Central America.

Karalee Mora, who served as Jafra US Managing Director, has left the company and her replacement will be announced shortly.

About Betterware de México, S.A.P.I. de C.V.

Founded in 1995, Betterware de Mexico is the leading direct-to-consumer company in Mexico focused on creating innovative products that solve specific needs regarding organization, practicality, space saving and hygiene within the household. Betterware's wide product portfolio includes home organization, kitchen, commuting, laundry and cleaning, as well as other categories that include products and solutions for every corner of the household.

The Company has a differentiated two-tier network of distributors and associates that sell their products through twelve catalogs per year. All products are designed by the Company and under the Betterware brand name through its different sources of product innovation. The Company's state-of-the-art infrastructure allows it to safely and timely deliver its products to every part of the country, backed by the strategic location of its national distribution center. Today, the Company distributes its products in Mexico and Guatemala, and has plans of additional international expansion.

Supported by its asset light business model and its three strategic pillars of Product Innovation, Business Intelligence and Technology, Betterware has been able to achieve sustainable double-digit growth rates by successfully expanding its household penetration and share of wallet.

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SOURCE Betterware de Mexico

FAQ

Who is becoming the South America Expansion Director?

Mari Loli Sánchez-Cano is becoming the South America Expansion Director.

Who is becoming the North America Region Director?

Virginia Cervantes is becoming the North America Region Director.

Who is being promoted to Managing Director of Jafra Mexico?

Pilar Sanchez is being promoted to Managing Director of Jafra Mexico.

Who has left the company?

Karalee Mora has left the company.

When will the organizational changes be effective?

The organizational changes will be effective on January 1, 2024.