Top Companies Report

19. Nu Skin Enterprises

July 10, 2013

Provo, UT

Sales: $1.1 billion for personal care products. Corporate sales: $2.1 billion. Net income: $59.2 million.

Key Personnel: Steve J. Lund, chairman, Nu Skin Enterprises; Truman Hunt, president and chief executive officer, Nu Skin Enterprises; Joseph Y. Chang, Ph.D., chief scientific officer and executive vice president, product development; Daniel R. Chard, president, global sales and operations; Scott E. Schwerdt, president, Nu Skin Americas; Ritch N. Wood, chief financial officer.

Major Products: AgeLOC, Tru Face and Epoch anti-aging and personal care products.

New Products: AgeLOC Body Spa, AgeLOC R2, AgeLOC TR90.

Comments: The good times just keep rolling along for Nu Skin. Corporate sales surged 24% last year driven, in large part, by the success of the AgeLOC franchise, which contributed more than $800 million in sales—just a few years after it debuted in 2008. Last year, the company focused on the international rollout of AgeLOC Body Spa and AgeLOC R2. Both were very well received, according to management, generating sales of $255 million.

By region, Japan accounted for 27% of corporate sales, followed by Greater China (20%), South Korea (16%), South Asia/Pacific and Americas (14% each) and Europe, Middle East and Africa (9%). China led the way, as sales surged 65% in 2012. Nearly 90% of Nu Skin’s revenue comes from outside the US. Underscoring the growing reach of Nu Skin is that fact that regional headquarters are getting set up in Shangai and a new innovation center is opening in Provo, UT.

Sales in North Asia (Japan and Korea) rose 6% last year to almost $795 million, thanks to demand for AgeLOC Galvanic Body Spa and the launch of Age LOC R2 in Japan. Sales in Greater China jumped 67% to almost $571 million, as Chinese were drawn to the Nu Skin business opportunity. Sales in South Asia/Pacific increased 40%.

Sales in the Americas rose 15% to nearly $290 million, helped along by the launch of AgeLOC True Face Essence Ultra.

Europe, Middle East and Africa reported a 14% increase in sales to $185 million, as consumers responded to the launch of AgeLOC Galvanic Body Spa and other products.

During the year, the global number of sales leaders and active representatives rose 24% and 11%, respectively. Looking ahead, company executives increased their full-year 2013 revenue guidance by $50 million to $2.30 to $2.35 billion.

“We believe 2013 will be another record year as we launch a new wave of compelling anti-aging products and project strong performances around the world,” said CEO Truman Hunt.

The UT-based firm is off to a good start in 2013 as first quarter sales soared 19% to a record $550 million as results in China and the Americas provided a lift. Although sales were up just 3% in North Asia, sales in China soared 90% to more than $175 million and sales in the Americas increased 15% to more than 76 million, led by a 7% rise in US results.

Looking even further ahead, to 2014 and beyond, Nu Skin will roll out TR 90 next year and the company expects its sales to top $100 million. Nu Skin executives added that the R&D department is making “steady progress” toward the launch of two anti-aging products in 2015.

The company expects corporate sales to top $5 billion by 2020.
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