Sales: $1.4 billion
Note: $1.4 billion for personal care products. Corporate sales: $2.4 billion
Key personnel: Ritch Wood, chief executive officer; Ryan Napierski, president; Mark Lawrence, chief financial officer; Joseph Y Chang, PhD, chief scientific officer and executive vice president, product development; D. Matthew Dorny, vice president, general counsel and secretary
Major products: AgeLoc and Epoch skin care
New products: Galvanic Spa device. To be launched: skin care device
Comments: Corporate sales fell 10% last year, as the number of sales leaders declined 25% and customers dropped 7%. AgeLoc personal care products accounted for 49% of Nu Skin’s personal care revenue and 30% of total revenue last year. International markets accounted for 87% of sales, led by China which accounted for 30% of sales.
The company notes that 80% of global revenue and 90% of global transactions occur online. As a result, in 2020, Nu Skin is focusing on enhancing the customer experience on all of its digital properties.
In March, Nu Skin’s AgeLoc LumiSpa won the NewBeauty Award for best cleansing device.
Reflecting the pandemic’s path, Nu Skin reported a 17% decline in Q1 sales to $518 million. Still, CEO Ritch Wood noted that revenue and earnings were above guidance.
Later this year, Nu Skin will roll out a beauty device system “targeting the emerging skin care enthusiast market.”
For the full year, Nu Skin expects sales to fall 7-10% due to COVID-19.