Nu Skin sets sights on China
Company looks to achieve $1bn in annual revenue in the region by 2014
US direct seller Nu Skin is looking to focus its growth strategy on China, after announcing its goal to reach $1bn in annual revenue in the country by 2014. This follows the release of the company’s fourth quarter results for 2012, which saw it achieve total revenue of $2.17bn. The greater China region was a key contributor to the figure, where revenue climbed 28% to $141.7m. Comparatively, others regions saw more modest growth, with the Americas growing 4% and South Asia falling 3% on the prior year.
“In 2010, when we set our $1bn sales goal for the greater China region, it seemed like an aspirational target," said Truman Hunt, CEO. "However, with momentum building in the region and the positive response we are receiving from customers in this growing market, we now believe the goal is achievable well within the original time frame.
Hunt added that the company is aiming to achieve $5bn in global annual revenue by 2020.
