Nu Skin Enterprises
Encyclopedia
Nu Skin Enterprises is an American
direct selling
company that develops and distributes personal care products and nutritional supplements that are sold under the Nu Skin and Pharmanex brands. Nu Skin was founded in 1984 in Provo, Utah
.
From its inception, Nu Skin International operated solely in the United States until 1990. During that time, the young company launched 18 products, ranging from moisturizers, enhancers, hair products and sunscreen.
The company 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 1992, Nu Skin’s 10-story high rise was completed and still remains, to this day, a landmark in Provo, Utah
. In 1996 the company listed on the New York Stock Exchange
. Initially only the Nu Skin Asia Pacific company was listed; however, shortly afterward all remaining company affiliates were sold to the new entity and Nu Skin Enterprises became a fully fledged public company.
Following a 1994 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, the company reported its highest ever earnings with US$1.54 billion in revenue in 51 international markets. As of 2011, Nu Skin operates in 51 countries in North America, Europe, and Asia.
As of 2011, Nu Skin operates in 52 countries in North America, Europe, and Asia. The company sells more than 200 products ranging from skin and hair products, to their anti-aging flag ship ageLOC products .
Nu Skin maintains an A+ rating with the Better Business Bureau
(BBB) . The company is also a member of the Direct Selling Association
, (DSA), and the Direct Selling Education Foundation (DSEF) .
in their Multivitamin and Multimineral Supplements Review of 38 of the leading multivitamin/multimineral products sold in the U.S. and Canada. Testing included amounts of selected index elements, their ability to disintegrate in solution per United States Pharmacopeia
guidelines, lead contamination threshold set in California Proposition 65, and meeting U.S. Food and Drug Administration
(FDA) labeling requirements.
Although the supplement passed all laboratory tests, ConsumerLab reported the product as failing the overall review due to not clearly indicating its total amount of Vitamin A
per FDA requirements.
". Restore our Future is a political action committee established by former aides to US presidential candidate Mitt Romney
to support his bid for the White House
.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
direct selling
Direct selling
Direct selling is the marketing and selling of products directly to consumers away from a fixed retail location. Peddling is the oldest form of direct selling. Modern direct selling includes sales made through the party plan, one-on-one demonstrations, and other personal contact arrangements as...
company that develops and distributes personal care products and nutritional supplements that are sold under the Nu Skin and Pharmanex brands. Nu Skin was founded in 1984 in Provo, Utah
Provo, Utah
Provo is the third largest city in the U.S. state of Utah, located about south of Salt Lake City along the Wasatch Front. Provo is the county seat of Utah County and lies between the cities of Orem to the north and Springville to the south...
.
From its inception, Nu Skin International operated solely in the United States until 1990. During that time, the young company launched 18 products, ranging from moisturizers, enhancers, hair products and sunscreen.
The company 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 1992, Nu Skin’s 10-story high rise was completed and still remains, to this day, a landmark in Provo, Utah
Provo, Utah
Provo is the third largest city in the U.S. state of Utah, located about south of Salt Lake City along the Wasatch Front. Provo is the county seat of Utah County and lies between the cities of Orem to the north and Springville to the south...
. In 1996 the company listed on the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
. Initially only the Nu Skin Asia Pacific company was listed; however, shortly afterward all remaining company affiliates were sold to the new entity and Nu Skin Enterprises became a fully fledged public company.
Following a 1994 investigation by the Federal Trade Commission
Federal Trade Commission
The Federal Trade Commission is an independent agency of the United States government, established in 1914 by the Federal Trade Commission Act...
(FTC), the company paid $1 million and signed a consent decree
Consent decree
A consent decree is a final, binding judicial decree or judgment memorializing a voluntary agreement between parties to a suit in return for withdrawal of a criminal charge or an end to a civil litigation...
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, the company reported its highest ever earnings with US$1.54 billion in revenue in 51 international markets. As of 2011, Nu Skin operates in 51 countries in North America, Europe, and Asia.
As of 2011, Nu Skin operates in 52 countries in North America, Europe, and Asia. The company sells more than 200 products ranging from skin and hair products, to their anti-aging flag ship ageLOC products .
Nu Skin maintains an A+ rating with the Better Business Bureau
Better Business Bureau
The Better Business Bureau , founded in 1912, is a corporation consisting of several private business franchises of local BBB organizations based in the United States and Canada, which work through their parent corporation, the Council of Better Business Bureaus .The Better Business Bureau, through...
(BBB) . The company is also a member of the Direct Selling Association
Direct Selling Association
The Direct Selling Association is the name of several similar trade associations in the United States, United Kingdom, Australia, Malaysia, Singapore, and New Zealand that represent direct selling companies, including those that use multi-level marketing compensation plans or party plan product...
, (DSA), and the Direct Selling Education Foundation (DSEF) .
Brands and products
Under the Nu Skin brand, the company develops and sells dozens of anti-aging personal care products. A portion of proceeds from some product lines is donated internally to the Nu Skin Force for Good Foundation. The company markets anti-aging dietary supplements under the Pharmanex brand.Reception
The nutritional supplement Pharmanex LifePak Anti-Aging was tested by ConsumerLab.comConsumerLab.com
ConsumerLab.com is a provider of independent test results and information to help consumers and healthcare professionals evaluate health, wellness, and nutrition products. ConsumerLab.com was founded in 1999. It is subscription fee based....
in their Multivitamin and Multimineral Supplements Review of 38 of the leading multivitamin/multimineral products sold in the U.S. and Canada. Testing included amounts of selected index elements, their ability to disintegrate in solution per United States Pharmacopeia
United States Pharmacopeia
The United States Pharmacopeia is the official pharmacopeia of the United States, published dually with the National Formulary as the USP-NF. The United States Pharmacopeial Convention is the nonprofit organization that owns the trademark and copyright to the USP-NF and publishes it every year...
guidelines, lead contamination threshold set in California Proposition 65, and meeting U.S. Food and Drug Administration
Food and Drug Administration
The Food and Drug Administration is an agency of the United States Department of Health and Human Services, one of the United States federal executive departments...
(FDA) labeling requirements.
Although the supplement passed all laboratory tests, ConsumerLab reported the product as failing the overall review due to not clearly indicating its total amount of Vitamin A
Vitamin A
Vitamin A is a vitamin that is needed by the retina of the eye in the form of a specific metabolite, the light-absorbing molecule retinal, that is necessary for both low-light and color vision...
per FDA requirements.
Political activities
In 2011 two Utah incorporated business entities linked to top executives of Nu Skin each made $1 Million contributions to the SuperPac "Restore Our FutureRestore Our Future
Restore Our Future is a political action committee created to support Mitt Romney in the 2012 U.S. Presidential election. A so-called Super PAC, Restore Our Future is permitted to raise and spend unlimited amounts of corporate, union, and individual campaign contributions under the terms of the...
". Restore our Future is a political action committee established by former aides to US presidential candidate Mitt Romney
Mitt Romney
Willard Mitt Romney is an American businessman and politician. He was the 70th Governor of Massachusetts from 2003 to 2007 and is a candidate for the 2012 Republican Party presidential nomination.The son of George W...
to support his bid for the White House
White House
The White House is the official residence and principal workplace of the president of the United States. Located at 1600 Pennsylvania Avenue NW in Washington, D.C., the house was designed by Irish-born James Hoban, and built between 1792 and 1800 of white-painted Aquia sandstone in the Neoclassical...
.