Sales: $1.6 billion
Sales: $1.6 billion for personal care products. Corporate sales: $2.6 billion.
Key Personnel: Ritch N. Wood, chief executive officer; Ryan Napiersky, president; Joseph Y. Chang, Ph.D., chief scientific officer and executive vice president, product development; D. Mathew Dorney, vice president, general counsel and secretary; Mark Lawrence, chief financial officer.
Major Products: AgeLoc and Epoch skin care products.
New Products: AgeLoc LumiSpa skin treatments.
Comments: Nu Skin Enterprises focuses its efforts around innovative consumer products, product manufacturing and automated controlled environment agriculture technology. The company is celebrating its 35th anniversary this year and has an innovative portfolio of beauty devices. AgeLocLumiSpa has been the newest addition, and the company recently reached the milestone of more than two million units sold in just 18 months.
In February, Nu Skin announced plans to open in Peru, expanding the company’s presence in Latin America. Operations there began on March 7, 2019, with a grand opening event in Lima.
“For 35 years, Nu Skin has grown around the world by providing customers innovative products deeply rooted in science and technology and building a strong partnership with our sales leaders to help them succeed with a rewarding business opportunity. Providing our empowering products and opportunity to the people of Peru is the latest milestone in our growth initiatives and an exciting new chapter of Nu Skin’s global operations,” said Ryan Napierski, president.
This year, the company shared its long-term strategy for consistently sourcing pure, safe and effective ingredients for use in its products. In order to achieve this, Nu Skin plans to build on its investment in controlled environment agriculture (CEA) technologies to develop sustainable ingredients that are traceable from seed to solution. Nu Skin’s initial CEA investment has been centered around the acquisition of Groviv, which develops automated, climate-smart agriculture systems that use a fraction of the water and land required in traditional farming without the use of herbicides and pesticides.
In March, Nu Skin launched AgeLoc LumiSpa Accent and AgeLoc LumiSpa IdealEyes, a new targeted treatment clinically proven to improve the appearance of skin around the eyes. This is the latest addition to the company’s line of science-driven beauty devices.
For the fourth year in a row, Nu Skin was recognized as one of the best places to work by Direct Selling News and the company was ranked No. 7 on the DSN Global 100 list of top revenue-generating direct selling companies. Nu Skin was also ranked the world’s No. 1 at-home beauty device system brand for 2017 and 2018 by Euromonitor International Ltd.
For the first-quarter of 2019, the company reported $623.6 million in revenue. CEO Ritch Wood said, “We are encouraged by the positive start to the year, which began with a strong first quarter highlighted by 7% local-currency growth. We were particularly pleased with local-currency revenue growth in nearly all our reporting segments, highlighted by 12% growth in Mainland China and 5% growth in Southeast Asia, or 6% and 2% on a reported basis, respectively. We continue to focus our global efforts on expanding our customer base through our Nu Skin growth strategy, which helped to drive a 10% increase in customers during the quarter.”
Nu Skin celebrated its 35th anniversary in June with humanitarian efforts in more than 20 countries as a part of the company’s annual Force for Good Day. On this day, employees and families at Nu Skin’s global headquarters provide service in local libraries, schools, parks, recycling centers and nonprofit organizations.