The Founding of a Direct Selling Leader
Innovation, quality and integrity are guiding values that have led Nu Skin Enterprises from modest beginnings to a global organization committed to quality products and attractive direct selling business opportunities. Under the direction of Chairman Blake Roney, CEO Truman Hunt and their executive management team, the company has grown from a small U.S. start-up to a multinational corporation with $1.25 billion sales in 2008.
Nu Skin Enterprises (www.nuskinenterprises.com) originated in 1984 when Nedra Roney persuaded her entrepreneurial brother, Blake Roney, to consider the shortcomings of skin care products available in the market. As they researched the industry, they discovered that indeed personal care manufacturers were content to include a few quality ingredients in each product, then fill the balance with waxes, oils, harsh alcohols and other harmful fillers.
Armed with that information, the two set out to create a skin care product line that contained only beneficial ingredients. Manufacturers were skeptical, explaining that products with only beneficial ingredients would be too costly to manufacture and that they wouldn’t be able to compete against the products of large cosmetic companies. Blake and Nedra pursued their idea, however, believing that their premium products would generate consumer demand.
Fellow founders Sandie Tillotson, Steve Lund and Brooke Roney joined the growing enterprise during the initial stages to assist in the development of the product line, the creation of a marketing and distribution system, and the establishment of a direct sales force. Finally, the pair found a manufacturer willing to make the products, and their first product order was so popular it was gone in a matter of hours.
From those humble beginnings, Nu Skin Enterprises has grown into a leading multinational public corporation. The company’s success is fueled by its ability to anticipate important demographic trends and bring to market innovative products with real-world consumer demand. These products are sold directly to consumers through independent distributors who are motivated by a financially rewarding, leadership-oriented compensation plan.
With a dynamic independent distributor force eager to pursue global business opportunities, the company set its sights on international expansion. Entering the global marketplace in 1990, the company has quickly expanded its operations to 47 international markets throughout the Asia Pacific region, the Americas and Europe. To facilitate global expansion, Nu Skin Enterprises pioneered a seamless and global compensation plan, which allows its distributors to build an international sales network while receiving one check in the distributor’s local currency.
Applying its innovative philosophies to multiple product categories, the company has expanded into new industries and now offers premium quality personal care, nutrition and business technology services. Nu Skin Enterprises will continue to refresh its business by staying on the leading edge of business trends and offering entrepreneurs attractive direct selling opportunities built around world-class products in those industries.
Nu Skin Enterprises’ Products Nu Skin Enterprises is committed to providing financially rewarding business opportunities that attract and retain dynamic independent distributors. The company offers entrepreneurs around the world three core opportunities built around superior consumer products and services. Each product brand is supported and backed by Nu Skin Enterprises’ corporate structure, which provides shared services, strategic direction and industry expertise. Together, these three product brands increase the reach of the company by providing a variety of business opportunities, allowing distributors to focus on the products and opportunity they feel passionate about while buying and selling across divisions.
?Nu Skin – Nu Skin focuses on skin care and advanced specialty skin treatment systems and continually brings consumers innovative skin care products through advances in dermatological science, the selection of superior ingredients, and the ability to target individualized consumer needs. Nu Skin’s commitment to innovation has led to the establishment of the Nu Skin Center for Dermatological Research at Stanford University School of Medicine, which focuses on scientific investigation, dermatology research, and product development. For more information, visit www.nuskin.com.
?Pharmanex – An innovator in the health and nutrition category, Pharmanex takes a pharmaceutical-like approach to the research and development of natural dietary supplements and nutritional systems. Through more than 100 on-staff scientists at Pharmanex facilities in Utah, Shanghai and Beijing, and advisory relationships with 150 more at leading academic and research institutions, Pharmanex is constantly exploring new ways to help consumers achieve optimum health and live better lives. Our commitment to science-based product development and research is evident. For more information, visit www.pharmanex.com.
?Big Planet – Big Planet brings the benefits of technology to everyone. This is done by leveraging the latest technology trends and providing compelling and innovative products that are easy to use, so that everyone-not just people with technical skills-can fully benefit from them. Through Photomax™, Big Planet offers a revolutionary business opportunity in the rapidly expanding field of digital photography. As one of the only direct selling companies dedicated to the technology sector of the new global economy, Big Planet is uniquely positioned to provide the very best that technology has to offer. For more information, visit www.bigplanet.com.
Nu Skin Enterprises’ Financial Strength
Publicly traded on the New York Stock Exchange under the symbol “NUS,” Nu Skin Enterprises is one of the largest direct selling companies in the world. The company has approximately 755,000 active independent distributors and preferred customers in 48 international markets that generated global revenue of nearly $1.25 billion in 2008.
The company is attracting and retaining quality distributors, increasing shareholder value by reinvesting in the company’s growth and leveraging its unique strengths to ensure long-term success.
Nu Skin Enterprises’ Vision
Nu Skin began in 1984 with the simple goal of creating a product line and a business that would improve people’s lives. The company’s unique products and business organization have done just that. Nu Skin has enhanced the lives of customers around the world and given hundreds of thousands of distributors a real opportunity to improve their quality of life.
As part of its mission to act as a force for good in society, Nu Skin Enterprises established a non-profit organization called the Nu Skin Force for Good Foundation in 1996.
“In 1984, when we first envisioned what was to become Nu Skin’s corporate mission statement, we aspired to be a company that could change people’s lives,” said Sandie Tillotson, Senior Vice President. “We wanted to measure our success by more than impressive sales figures and statistics, we wanted to judge ourselves on what we helped to leave behind. We wanted to truly make a difference in this world.”
The Foundation provides funds and products to create a better world for children by improving human life, continuing indigenous cultures and protecting fragile environments. The company also institutes a corporate donations committee in each market to budget and dispense funds to charities and non-profit organizations for philanthropy programs and to organize community volunteer programs for corporate employees and independent distributors.
For more information on the Nu Skin Force for Good Foundation, please visit www.forceforgood.org.
Nu Skin Enterprises remains focused on its commitment to improve the quality of people’s lives on its way to becoming the largest direct selling company in the world. With an unmatched global business opportunity, a growing product offering of more than 200 products and a talented distributor force, Nu Skin Enterprises will continue to be a leader in the direct selling industry.
Source: http://www.nuskinenterprises.com/en/media-center/press-kits/nse/story.shtml
