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Seacret Settles Dispute With WorldVentures

Seacret Settles Dispute With WorldVentures and Prepares For Global Lifestyle Brand Prominence.

Seacret Direct is pleased to announce that it has settled its dispute with WorldVentures/ Spherature. The settlement – which has been approved by the court supervising WorldVentures’/Spherature’s bankruptcy – was one of several agreements reached by WorldVentures/Spherature in connection with the approval of its chapter 11 bankruptcy plan.

Seacret believes that the settlement will allow it to co-exist with WorldVentures and its purchaser, Verona, and that it will enable Seacret and its agents to move forward, promote the Seacret lifestyle, and conduct business without further conflict.

Just over one year ago today, Seacret Direct and WorldVentures entered into an agreement that provided WorldVentures representatives with an additional income opportunity selling Seacret’s products and services.

WorldVentures celebrated that agreement by issuing a press release which described the relationship between the two companies as a “unique partnership” and a “strategic alliance” that would allow WorldVentures’ sales representatives “to enhance their current income generated through the sale of travel memberships through WorldVentures by also selling Seacret’s products which can be enjoyed now while travel is such a difficult benefit for customers to use.”

In that press release, WorldVentures acknowledged that it had “been deeply impacted during the COVID-19 pandemic” and that the “new enhanced agreement with Seacret” allowed for its representatives to maintain their customer bases by offering them different products and services offered by Seacret.  Many WorldVentures sales representatives successfully took advantage of that opportunity and continue to do so today.

Pursuant to the terms of that agreement, Seacret agreed to pay a significant amount of royalties to WorldVentures from sales of Seacret products and services generated by WorldVentures sales representatives – to assist WorldVentures with its then financial situation.

Seacret also agreed to separately pay commissions to WorldVentures sales representatives on all such sales via Seacret’s standard commissions schedule, during a time when the sales representatives needed those commissions the most.  Further, Seacret agreed to make an offer to purchase certain of WorldVentures’/Spherature’s assets, which it did – more than once – albeit unsuccessfully.

Unfortunately, conflicts developed after WorldVentures/Spherature filed for bankruptcy, and the companies found themselves at odds.

Despite that fact, despite being sued, and throughout the bankruptcy process, Seacret faithfully maintained its commitment to WorldVentures and to its former representatives by paying millions of dollars to the company in royalties and millions more in commissions to those WorldVentures sales representatives who registered as Seacret agents and who sold (and continue to sell) Seacret products and services. Seacret honored its commitments.

As is often the case in litigation, parties spend far too much time and money on legal arguments, only to arrive at an outcome that is not significantly different from where they first started.

In this case, one year after initially celebrating their partnership, and after many months of litigation, the ultimate outcome is considerably similar to what was originally agreed to by Seacret and WorldVentures.

Just as before, participating WorldVentures’ sales representatives will continue to have access to Seacret’s products and services for purposes of selling those products and services to their customers, and participating WorldVentures’ sales representatives will continue to be paid substantial commissions by Seacret for all such sales.

Just as before, neither Seacret nor WorldVentures will interfere in any way with those sales representatives’ opportunity to earn an enhanced income by selling products or services offered by Seacret or by Verona (the purchaser of WorldVentures’ assets).  Just as before, Seacret will continue to make royalty payments to WorldVentures/Spherature in connection with those sales, which will assist WorldVentures/ Spherature in paying its obligations after emerging from bankruptcy.

Most importantly, the settlement frees up Seacret to continue to devote its resources towards building its community of agents who are committed to serving others, who lead with integrity, and who remain positive and forward-thinking – a team of which we are so proud, and a team which will continue to prosper and succeed while helping our customers look, feel and live their best lives.

About Seacret Direct

Seacret Direct is a service driven company. Launched with a direct-to-consumer model selling premium Dead Sea skincare products through kiosks, Seacret became the world leader in the space. From the lowest point on earth, with over 20 years of expertise and mastery, Seacret Minerals from the Dead Sea unlocks the potential of this legendary beauty spa that seduced Cleopatra and brings it directly to customers worldwide.

Founded in 2005, Seacret Direct develops, manufactures and sells premium nutrition and skincare products that combine Dead Sea minerals and other clean ingredients with new technologies and scientific breakthroughs.

Exclusively manufactured in Israel, Seacret skincare products offer mineral combinations found only in the Dead Sea. Seacret nutrition products are plant centered formulas and supplements for every body. The Club Seacret membership program rounds out the proposition of the lifestyle company serving an ever-expanding community with world-class experiences, entertainment and cultural events, health and fitness content and activities, and social connection world-wide.

Seacret products were sold in many countries before the company adopted the direct selling business model in 2011. Since then, Seacret continues to be recognized on the DSN Global 100 list for its global impact of the industry on economic and social realms.

For more information, visit seacretdirect.com or clubseacret.com

Get more information, facts and figures about Seacret Direct, click here for the Seacret Direct overview.

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