We’ll file this one under the “I told you so” category….MusclePharm issued another one of their inane press releases (like the ones where they try to spin a $5 million dollar loss as a positive result), this time telling everyone that Jeremy Deluca, former president of Bodybuilding.com, has joined their company. This comes as no surprise to anyone, but I know that if I were a vendor on BB.com, I’d be more than a little concerned with potential favoritism being shown to MP (whose products are heavily advertised on the site).
However, it’s also worth noting that despite their heavy advertising, their products typically sell alright while they’re discounted on a promotion, but then experience a heavy fall once the sale is over. I don’t really know what to make of this company, but the losses they’ve sustained, and the debts they’ve incurred (and failed to pay), make their future look less than bright.
DENVER, May 25, 2011 /PRNewswire/ — MusclePharm Corporation, a Nevada corporation (“MusclePharm” or the “Company”) MSLP, an expanding U.S. nutritional supplement company, is pleased to announce that Jeremy Deluca, the former Bodybuilding.com President, will be joining MusclePharm’s Executive team as Co-President and Chief Marketing Officer.
Together with his brother Ryan, Deluca helped create and grow the Bodybuilding.com brand to incredible heights. Today it is the largest online sports nutrition company in the world, boasting annual sales of more than $250 million, providing Deluca with one of the most impressive track records in the industry.
“Jeremy will be an invaluable asset and we are very excited to have him on the MusclePharm team,” MusclePharm CEO Brad Pyatt stated. “In my opinion, Jeremy was the biggest free agent this industry has ever seen, and it’s a testament to our company that he signed with MusclePharm. Adding Jeremy will be a huge part of our overall growth strategy as we continue to expand in hopes of dominating the industry.”
While at Bodybuilding.com, Deluca helped the site become the most visited bodybuilding and fitness online destination in the world with an innovative marketing and promotions mindset. The company now sells more than 12,000 products from nearly 600 brands worldwide.
MusclePharm has quickly become one of the top brands on the Bodybuilding.com website, which draws more than 300,000 unique daily visitors, taking place on the site’s top 10 best-selling supplement brands list. Two of the company’s award-winning and popular products, Assault and Shred Matrix, were among the website’s top-selling products.
“I am thrilled to be joining the MusclePharm team. I have known this management team since day one and recognize the tremendous amount of work that they continue to exert for long-term success,” Deluca commented. “Bringing proven success from this industry to an already aggressive and focused management team, I am confident that MusclePharm will achieve even greater success in both the long and short term future.”