Sales for the first eight months of the year grew to THB 2 billion ($65.1m), representing a growth rate of 27 percent year-on-year and one that is four times the average industry growth rate, said the company’s president of Thailand and Vietnam operations in an interview with the Bangkok Post.
He also stated that sales of the AgeLoc brand have led the way during the period, with revenues specific to the anti-aging line topping the THB 450 million mark in the month of August, alone.
AgeLoc leads the way
Although Nu Skin has been present in Thailand for 15 years, its sales have received a significant boost thanks to the continuing success of the AgeLoc line, which is now estimated to account for 80 percent of total annual sales in Thailand.
The company said that it also plans to launch an AgeLoc beauty from within supplement to compliment the brand portfolio at the beginning of next year.
The company’s model combines direct selling with multi-level marketing, which has proved to be particularly popular in the Asia-Pacific region, where the company has enjoyed strong sales growth in many of the leading countries in the region.
Nu Skin success in China in question
In particular the company’s model has proved very successful in mainland China, where it has built up a position into one of the leading direct selling personal care players in the market.
However, back in August, law firm BG&G announced that is was investigating claims that Nu Skin enterprises had violated federal security laws in the country related to so-called pyramid-selling, which caused shares in the company to fall nine percent, at the time.
As well as China and Thailand, Nu Skin is also available in Brunei, Hong Kong, Japan, Korea, Macau, Malaysia, Philippines, Singapore, Taiwan and Vietnam, together with Australia and New Zealand.