Nu Skin Enterprises (ticker: NUS, exchange: New York Stock Exchange (.N))
News Release -
Nu Skin Enterprises Receives Broader Direct Selling Authorization in Mainland China
PROVO, Utah, Jan. 8 /PRNewswire-FirstCall/ -- Nu Skin Enterprises, Inc.
(NYSE: NUS) announced today that it has received official notification from
the Chinese Ministry of Commerce to commence direct selling activities in all
18 districts in Beijing and four additional districts in Shanghai, allowing
the company to operate a direct sales model in all 12 Shanghai districts. The
latest government approval gives Nu Skin Enterprises authorization to offer a
direct selling opportunity to the more than 37 million people residing in
Beijing and Shanghai.
"We are optimistic about our business plan for 2008 and pleased to start
the new year with the official approval to expand our direct selling model in
China's key municipalities of Shanghai and Beijing," said President and Chief
Executive Officer Truman Hunt. "We will continue working through the
appropriate regulatory channels to secure additional direct selling approvals
in the country's other important geographies. Overall, we continue to see
great potential in China and are confident in our local management team and
its ability to move the market forward."
Nu Skin Enterprises, Inc. is a global direct selling company operating in
more than 45 markets throughout Asia, the Americas and Europe. The company
markets premium-quality personal care products under the Nu Skin(R) brand,
science-based nutritional supplements under the Pharmanex(R) brand, and
technology-based products and services under the Big Planet(R) brand. Nu Skin
Enterprises is traded on the New York Stock Exchange under the symbol "NUS."
Please note: This press release contains forward-looking statements that
represent the company's current expectations and beliefs, including, among
other things, the Company's plans and expectations for China. The company's
roll out of direct selling in China and the forward-looking statements involve
risks and uncertainties that could cause actual results and outcomes to differ
materially from any forward-looking statements or views expressed herein.
These risks and uncertainties include, but are not limited to, the risk that
the regulatory environment in China is rapidly evolving and the Company's
operations could be harmed by subjective interpretations of laws or an
inability to work effectively with national and local government agencies; a
high level of regulatory scrutiny and risks of investigations and actions by
regulators if they make a determination that the Company or its sales
employees or distributors are in violation of applicable regulatory
requirements; and uncertainty related to the Company's implementation of a
modified business model for this market. The forward-looking statements
contained herein are further qualified by a detailed discussion of associated
risks set forth in the documents filed by the company with the Securities and
Exchange Commission, including the company's most recent Form 10-K and Form
10-Q. The forward-looking statements set forth the company's beliefs as of
the date of this release, and the company assumes no duty to update the
forward-looking statements contained in this release to reflect any change.
SOURCE Nu Skin Enterprises, Inc.
both of Nu Skin
Web site: http://www.nuskinenterprises.com