Nu Skin Announces Latest Investments in Innovation at Annual Meeting for Top Sales Leaders
PROVO, Utah, May 17, 2011 /PRNewswire/ -- Nu Skin Enterprises (NYSE: NUS) today announced its latest investments in innovation to its top sales leaders during a week-long incentive trip to New York City. Extending its exclusive ageLOC science, the company announced that it will introduce two new product sets to its top-selling ageLOC anti-aging product platform. To complement the recently announced Innovation Center to be built at its corporate headquarters, the company unveiled plans to build a new Greater China Regional Headquarters and Innovation Center in Shanghai. The company also announced it will commence operations in Argentina on June 20.
"We look forward to building on our highly successful ageLOC anti-aging platform, which has generated more than $600 million in sales during the past six quarters, with the introduction of new products in both the nutrition and skin care categories," said Truman Hunt, Nu Skin president and chief executive officer. "These are significant product launches as this will be the first global launch of an ageLOC nutritional product. Additionally, we are following up on the success of our top-selling ageLOC Galvanic Spa System with the introduction of a galvanic body care treatment system."
Nu Skin will introduce the new ageLOC products at its global convention in October and gave its top sales leaders a preview today. The ageLOC nutrition product package will feature supplements formulated to improve cellular energy production and purification, which will typically be taken in the morning and then at night, respectively. In addition, Nu Skin will build on the success of its ageLOC Edition Galvanic Spa System with the introduction of a new galvanic spa designed for use on the body together with consumable products formulated to help minimize and smooth the appearance of cellulite and promote increased circulation for a more contoured body appearance.
"We are fiercely committed to infusing innovation into our products and our business model," continued Hunt. "Not only are we introducing compelling products, we are also fueling our strong momentum in emerging markets, especially mainland China. We believe that our new state-of-the-art headquarters and laboratory in China, as well as our expansion of operations in Latin America, will continue to strengthen the Nu Skin opportunity for our distributors."
The new Greater China Regional Headquarters and Innovation Center in Shanghai will be the company's second largest facility worldwide. The new facility is projected to cost approximately $45 million and will provide a world-class environment to promote an innovative culture for the region's employees. Additionally, the new regional headquarters will consolidate both laboratories and manufacturing facilities into one state-of-the art facility. The new headquarters is slated for completion by mid-to-late 2013.
As Nu Skin's 52nd market, Argentina boasts the third largest economy in Latin America and a population of more than 40 million. The company will initially introduce select anti-aging Nu Skin personal care products to the market, with the introduction of nutritional supplements to follow as government regulations allow. Products will be available for sale in Argentina on June 20, 2011.
About Nu Skin Enterprises, Inc.
Nu Skin Enterprises, Inc. demonstrates its tradition of innovation through its comprehensive anti-aging product portfolio, independent business opportunity and corporate social responsibility initiatives. The company's scientific leadership in both skin care and nutrition has established Nu Skin as a premier anti-aging company, evidenced in its unique ageLOC™ science that addresses aging at its source. The company's anti-aging products feature the new ageLOC suite of products including the ageLOC Transformation daily skin care system, ageLOC Future Serum and the ageLOC Edition Galvanic Spa® System II, as well as the ageLOC Vitality nutritional supplement. A global direct selling company, Nu Skin operates in 51 markets worldwide and has approximately 800,000 independent distributors. Nu Skin is traded on the New York Stock Exchange under the symbol "NUS." More information is available at http://www.nuskin.com.
Please note: This press release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the company's plans and strategies. These forward-looking statements are based on current information and expectations, and are subject to risks and uncertainties discussed in company filings with the U.S. Securities and Exchange Commission, which could cause the company's actual results to differ materially from expected results. The company undertakes no obligation to publicly update any forward-looking statement contained in this press release, whether as a result of new information, future developments or otherwise, except as may be required by law.
SOURCE Nu Skin Enterprises, Inc.