Izhak Ben Shabat, founder and global CEO of Seacret Direct, took office as the new CEO of Seacret Direct Korea on Sept. 23.
The decision was made at a shareholders' meeting held on Sept. 23, and Seacret Direct Korea will begin a transition to a responsible management system in which the owner will directly take the helm of the company.
The decision is believed to have chosen a responsible management system under which the owner will directly serve as CEO to stabilize the Korean market, which accounts for a significant portion of global sales, amid the rapidly changing business environment of COVID-19.
It is expected that Seacret Direct Korea will step up efforts to develop new future business models, including non-face-to-face communication.
Seacret Direct Korea entered Korea in 2012 as Asia's first overseas branch. Its annual sales surpassed 100 billion won ($84.7 million) for the first time in more than three years, ranking first among the top 100 direct sales companies in the world.
In 2017 and 2018, the company achieved annual sales of 154 billion won and 159.4 billion won, respectively.
In his inaugural address to Seacret Direct Korea, Izhak Ben Shabat said, "We will always serve all the executives, businesses and customers who are willing to accompany us on the Seacret journey like family members. We will do our best to make everyone happy and financially stable.”
Meanwhile, Seacret Direct Korea currently distributes "Secret," a cosmetics brand specializing in Israel's Dead Sea, "Life by Secret," a high-quality naturalist health food brand, and "Iron Flower," a premium household goods brand, in Korea.
In addition to the U.S. and South Korea, it has also made inroads into eight other countries -- Canada, Mexico, Japan, Australia, Colombia and Vietnam.
