Nu Skin Enterprises Receives Direct Selling Authorization In 5 Additional Provinces In Mainland China
Nu Skin Enterprises, Inc. (NYSE: NUS) announced today that it has received official notification from China's Ministry of Commerce of its approval to commence direct selling activities in five additional provinces and 30 districts. The provinces include Anhui, Gansu, Chongqing, Shaanxi and Yunnan. The licensing process included a review of the company's operations and is the sixth time that the Ministry of Commerce has granted Nu Skin new direct selling licenses. Nu Skin's direct selling footprint will now include 19 of the country's 32 provinces and municipalities.
"We are pleased that China's government has granted us authorization to expand our direct selling activities into additional provinces and districts," said Truman Hunt, president and chief executive officer. "We believe the government's approval of our application is a reflection of our significant investment in China over the past several years, our commitment to enhancing the lives of China's consumers and our desire to be a constructive part of China's social framework.
"We continue to build for the long-term potential of this important market and these new licenses allow us to further expand our direct selling coverage. Additionally, in an effort to better support our sales force and consumers in China, we are accelerating our infrastructure plans, including tripling the number of stores and sales support centers by 2015, as opposed to 2017 as previously announced, and expanding our manufacturing capabilities within the market by the end of 2013," concluded Hunt.
About Nu Skin Enterprises, Inc. Nu Skin Enterprises, Inc. demonstrates its tradition of innovation through its comprehensive anti-aging product portfolio, independent business opportunity and corporate social responsibility initiatives. The company's scientific leadership in both skin care and nutrition has established Nu Skin as a premier anti-aging company. The company's anti-aging products feature the new ageLOC® suite of products including the ageLOC® R2 nutritional supplement, ageLOC® Galvanic Spa System and ageLOC® Galvanic Body Spa™, as well as the ageLOC® Transformation daily skin care system. A global direct selling company, Nu Skin operates in 53 markets worldwide and is traded on the New York Stock Exchange under the symbol "NUS." More information is available at http://www.nuskin.com.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.