Nu Skin Asia plans to triple sales
US party plan cosmetics business Nu Skin sees Asia as a key to achieving $5 billion in global sales by 2020.
The Utah based company says its wants to triple sales in Asia to US$1 billion within five years.
Nu Skin Enterprises says Nu Skin Asia currently contributes 15 per cent of its total sales and its sees greatest potential in the region in the markets of Thailand, Malaysia and Indonesia.
Besides increasing its network of direct sellers, the company is expanding its product range. A key new product category will be Y-Span, a food supplement.
Founded in 1984, Nu Skin made its Asian debut in 1991 in Hong Kong. Despite being listed on the NYSE giving it credibility, the company has courted controversy with its representations to would-be resellers of its products, accused of overstating the income potential. It settled with five US states over such disputes.
Last year it was subject to investigation by Chinese authorities over allegations of operating an “illegal pyramid scheme”.
Today the company operates in 53 countries and boasts a network of 950,000 individual resellers.