by Coachella Valley | March 3, 2015 1:23 am
Guthy Renker pulls in $1 billion plus a year from less than 20 different products, many you may know like Proactiv, Wen and Sheer Cover, to millions of consumers in over 60 countries.
Renker and Guthy, now in their late fifties, met nearly 30 years ago. Renker worked in his family-owned business; Guthy had an audiotape business; both loved motivational books.
With $100,000 in launch money, Guthy licensed the classic self-help guide Think and Grow Rich, by Napoleon Hill (1883-1970). Renker pitched in on the marketing end, relying on former NFL quarterback Fran Tarkenton to hawk an audio cassette version in a full-blown infomercial. “In baseball terms, it was a single,” grossing $10 million, says Guthy.
The four bagger came soon after: Tony Robbins’ Personal Power, another series of inspirational tapes, pulled in $20 million its first year
Today they made it official and announced they’ve decided to consolidate their California offices and relocate them to their Santa Monica location. About 55 jobs will be effected in the Coachella Valley according to a company spokesperson.
Although officially confirmed by email today, Guthy Renker, who’s founder Greg Renker lists his current residence in Indian Wells said the move out of the Coachella Valley will happen by 2017.
Source URL: https://coachellavalley.com/guthy-renker-announced-today-will-closing-palm-desert-offices-located-cook-street/
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