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Nu Skin Reports $2.6 Billion Sales in 2020, Up 7% from 2019

February 18, 2021 Leave a Comment

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Nu Skin announced 28% revenue increase in the fourth quarter of 2020, compared to the last quarter of 2019. With this, company’s annual global sales reached $2.581 billion.

“We grew revenue in each of our reporting segments with particular strength in the west markets where our brand affiliates have more broadly adopted social commerce to share our products. The successful Boost and Nutricentials product introductions helped generate 28% revenue and 29%  sales leader growth in the quarter. In addition, our manufacturing segment continued to generate strong results, posting 42% revenue growth in the quarter and playing a critical role in our ability to keep product in stock, even with increased demand and global supply chain constraints,” said Ritch Wood, Chief Executive Officer.

For 2021, company management anticipates revenue to be between $2.71 and $2.81 billion.

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This Month in History

On March 25, 1975, the U.S. Federal Trade Commission (FTC) filed a complaint against Amway.

The allegations stated in the complaint were quite strong. After four years of hearings, it was ruled in 1979 that Amway’s business was legitimate, not a pyramid scheme.

This did not mean that the FTC had left Amway free of any orders to follow, but it provided a shield to network marketing companies, including Amway.

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