Nu Skin Enterprises
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Headquarters in Provo, Utah
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| Public | |
| Traded as | : NUS S&P 400 Component |
| Industry | Multilevel marketing |
| Founded | 1984 |
| Founder | Blake Roney, Steve Lund, Sandie Tillotson, Nedra Roney |
| Headquarters | Provo, Utah, United States |
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Area served
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Worldwide |
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Key people
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Steve Lund (Chairman) M. Truman Hunt (President, CEO, and Director) Ritch N. Wood (Vice President and CFO) |
| Products | Personal care, nutraceuticals |
| Revenue |
 US$ 2.25 billion (2015)
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US$ 352.188 million (2014)
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US$ 189.176 million (2014)
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| Total assets |
US$ 1.614 billion (2014)
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| Total equity |
 US$ 942.438 million (2014)
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Number of employees
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5,000 (Dec 2014) |
| Website | www |
Coordinates: 40°14′00″N 111°39′37″W / 40.233437°N 111.660171°W
Nu Skin Enterprises is an American 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 foreign 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 . The company markets its products in 54 markets through a network of approximately 1.2 million independent distributors.
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 January 2014, the Chinese government announced that it was investigating Nu Skin following a People's Daily newspaper report calling it a "suspected illegal pyramid scheme." In 2016, Nu Skin settled $47 Million for operating a pyramid scheme after a being sued by China in a Utah federal court. Nu Skin was also forced to pay another $750,000 for bribing a top Chinese official with funds from Nu Skin's charitable division after a US Securities and Exchange Commission probe.
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Wikipedia