Nu Skin Enterprises is an American direct selling and multilevel marketing company which develops and sells personal care products and dietary supplements (under the Pharmanex brand). Nu Skin was founded in 1984 in Provo, Utah. The company originated in the U.S. and began its first international operation in Canada in 1990. One year later, the company began operations in Asia with the opening of Hong Kong. In 1996 the company listed on the New York Stock Exchange.
In the 1990s, the Federal Trade Commission (FTC) investigated Nu Skin over complaints of its multilevel marketing practices. In 1992, Nu Skin reached settlements with 5 states which had accused the company of deceptive advertising and overstating the income earned by distributors. In 1994, following an investigation by the Federal Trade Commission (FTC), the company paid $1 million and signed a consent decree prohibiting it from making deceptive or unsubstantiated claims about its products. In 1997, the company paid an additional $1.5 million to the FTC to settle ongoing allegations of unsubstantiated promotional claims.
In 2010, Nu Skin was listed among Forbes "100 Most Trustworthy Companies". In 2011, Nu Skin reported its highest ever earnings with US$1.74 billion in revenue in 52 international markets.
Read more about Nu Skin Enterprises: Brands and Products, Business Model and Sponsorships, Corporate Social Responsibility, Scrutiny and Reception, Political Activities
Famous quotes containing the words skin and/or enterprises:
“You flicker. I cannot touch you.
I put my hands among the flames. Nothing burns.
And it exhausts me to watch you
Flickering like that, wrinkly and clear red, like the skin of a mouth.”
—Sylvia Plath (1932–1963)
“There is nothing man will not attempt when great enterprises hold out the promise of great rewards.”
—Titus Livius (Livy)