MusclePharm Corporation (OTCBB:MSLP) one of the fastest growing nutritional supplement companies in the United States, is pleased to announce a multi-year partnership with the World Bodybuilding and Fitness Federation (WBFF) that will place the company as the title sponsor of the World Famous WBFF through 2014.
The partnership begins in 2011 and MusclePharm will work closely with the WBFF and its President and CEO, Paul Dillett, who is widely considered one of the greatest bodybuilders in the sport’s history. Dillett, recognized as Canada’s greatest bodybuilder, won numerous bodybuilding titles throughout his illustrious career, and is often regarded as having one of the sport’s most recognizable physiques.
In four short years, the WBFF has grown to become a popular destination for aspiring professional bodybuilders and fitness competitors. In 2010 alone, participants from more than 25 different countries competed in the WBFF World Championships, which featured many of the world’s top fitness athletes.
MusclePharm’s President, Cory Gregory, commented, “We are very excited to partner with the WBFF. We believe this relationship will expand our brand by introducing our nutritional supplements, which are 100% free of any banned substances, to a new market.”
“With the recently announced fulfillment agreement, our enhanced operating platform will enable us to improve margins and enable management to focus on partnering opportunities such as WBFF. We believe we are well positioned to achieve very strong growth in 2011 and look forward to leveraging our brand and superior product offerings into new channels and improving our operating margins.”
In addition, MusclePharm recently announced a fulfillment agreement with IVitals that is expected to improve cash flow, reduce backorders, improve turnaround time on all orders and allow management to focus its time and resources on the marketing and selling of MusclePharm’s growing portfolio of products.
The Company expects to achieve over $4 million in sales for the full year of 2010, which is over 300% growth compared to the same period last year. The rapid growth and strong customer demand for the MusclePharm products has created back orders for 5 of the 12 months in 2010. The new fulfillment agreement is expect to greatly improve the back orders for the remainder of 2010 and reduce the insufficient levels of stock needed to complete all orders.
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