Nu Skin To Enter Chinese Retail Market

Nu Skin Enterprises, Provo, UT, plans to enter the retail market in China with the opening of more than 100 outlets on Jan. 8. The personal-care distributor said it will open retail outlets in Zhejiang, Jiangsu, Fujian, Guangdong and Shanghai. Nu Skin said it has worked with Chinese regulatory agencies to develop a modified business model to address the direct-selling ban in China, a market with more than 1.3 billion consumers.

Over the last five years, the company has invested $80 million to acquire local manufacturing facilities, retail outlets, and research and development resources in China. The company projects revenue at more than $750 million throughout the region in 2002, and a double-digit growth rate compared with 2001 results, it said. Nu SKin also backed China revenue targets of $300 million in five years.

The company also expects to add more employees to its 800 work force in China as it opens more retail outlets. Nu Skin also expects to reach a significant market share in the region in 2006.