Oliveda International Inc. (OTC:OLVI) Stock Pulls Back Despite 2,500% Growth of Olive Tree People Subsidiary
On Wednesday, the Oliveda International Inc. (OTC:OLVI) stock could be one to track given the 5% fall on Wednesday. Yesterday, the company announced that its United States subsidiary Olive Tree People Inc. had continued to generate strong growth at a steady pace.
Oliveda International, Inc. (OLVI) Announces 2,500% Growth of Olive Tree People Subsidiary
In the third fiscal quarter of 2024, the subsidiary reported growth of 2500% in comparison to the corresponding quarter in 2023. On a sequential basis, Olive Tree People recorded growth of 47%, and in comparison to the first fiscal quarter of 2024, the growth stood at 580%. In August 2024, Olive Tree People opened a new shipping center in the United States, and so far, 240,000 orders have been shipped from the establishment.
In the news release, Oliveda International stated that it expected order volume to rise further in the fourth quarter, primarily due to the launch of Olive Rose, a new brand. The company stated that in the fourth fiscal quarter, it expected the total number of orders to surpass 400,000. By the end of 2024, Olive Tree people also expect the number of Waterless Beauty Consultants to cross 50,000. At the beginning of 2025, it would have planned further expansion in new nations and waterless beauty promotional campaigns on a bigger scale.
