VIENNA, Jan. 30, 2025 /PRNewswire/ — President & CEO Narek Sirakanyan gave a boost to the development of the group, introducing the new product qTest, opening new offices in Dubai and Bien Hoa (Vietnam) and promoting a more aggressive marketing strategy.
Narek Sirakanyan comments: ‘The year 2024 marked our tenth anniversary. Now we are ready for a quantum leap targeting an IPO in 2029. I personally believe we must continue looking for projects characterized by innovation, scalability and social relevance. Our footprint now includes 19 countries and this year we’ll open two more. We are ready to launch Firstline, our new app for the Horeca sector which complements our High-Tech area.”
2024 Facts & Figures
The leading business on the group is Project V, focused on nutraceuticals for health, wellness and beauty. “Project V totaled a record revenue level of 130 million USD” said Sirakanyan, “and by the end of 2025 we target to reach 150 million USD in revenues. The Project V business was enriched in fall by the introduction of GH, a drinking complex in ampoules based on 6-year-old white imperial Ginseng. Now Project V offers 80 products and by the end of 2025 this number will grow to 100.”
The Coffeecell business grew by 15% to 8,5 million USD and the plans for 2025 are to top the 10 million USD threshold. Two new products based on imperial Ginseng were introduced in 2024, G Black and G Legend.
On May 10, President & CEO Narek Sirakanyan presented the qTest, a world premiere, together with professor Torello Lotti, a renowned academician, who developed it. This system responds to an oxidation-reduction chemical reaction, or redox (short for reduction-oxidation), which is crossed with the level of saliva pH to determine the unique position of everyone taking the test.
QTest is now being exported to all main FIG markets.
Outlook for 2025
The goal is to position Project V in the fashion world as a “secret” source of health and energy for models’ backstage at fashion shows. A first step in this direction will be the partnership with the Monte-Carlo Fashion Week, the official fashion event of the Principality of Monaco.
Concerning the High-Tech line, Freedom plans to introduce the Firstline app in the first quarter of 2025. “Firstline is a digital space where each business competes for existing and potential clients.” Says Sirakanyan: “Firstline directly attracts its clients, returning money to them for the purchases and recommendations. Nothing to pay upfront to marketing agencies and other intermediaries. We plan to invest 3 million USD in marketing this year to launch the app and to reach a turnover of 15 million USD by the end of 2025.”
This year the group plans to open two more offices, in Riyadh (Saudi Arabia) and Milan (Italy).
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