Herbalife Continues To Grow Presence In China0
Herbalife Continues To Grow Presence In China
Herbalife (NYSE: HLF), a global nutrition company, has won approval from China’s Ministry of Commerce to operate in three additional provinces with a population of about 57 million, which will contribute to our growth plans in the country.
The Gansu, Ningxia and Inner Mongolia provinces, which include three provincial capital cities and 16 districts, have completed their service outlet reviews that permit Herbalife to conduct direct selling activities.
China’s Ministry of Commerce granted the permits after reviewing the current business practices of Herbalife in the country. Herbalife has 300,000 service providers in China and licenses to operate in 25 other provinces.
“These approvals are a testament to our success in China and our future growth plans,” said Michael O. Johnson, chairman and CEO of Herbalife.
To meet increasing demand, in July Herbalife began operations at its newest facility in Nanjing, a 372,000-square-foot factory that will double Herbalife’s production capacity in China. Herbalife also operates factories in Changsha and Suzhou, and the three facilities combined can produce 60 million units annually. Altogether, Herbalife employs more than 1,300 people in China, including 124 at its new facility in Nanjing.
“Our business continues to expand as more consumers see Herbalife as a trusted, convenient and accessible nutrition brand,” said Jerry Li, senior vice president and manager of China operations for Herbalife. “Our nutrition clubs and preferred customer loyalty program are aimed at engaging Chinese consumers in improving their well-being and weight.”
Besides the three provinces, Herbalife is licensed to operate in these 25 provinces: Jiangsu, Shandong, Zhejiang, Guangdong, Guizhou, Beijing, Fujian, Sichuan, Hubei, Shan’xi, Jiangxi, Liaoning, Jilin, Henan, Chongqing, Shanghai, Tianjin, Shanxi, Hebei, Heilongjiang, Hunan, Anhui, Guangxi, Hainan and Yunnan.
Herbalife also has manufacturing facilities in Lake Forest, California, and Winston-Salem, North Carolina.
Herbalife is a global nutrition company that has been changing people’s lives with great products since 1980. Our nutrition, weight-management, energy and fitness and personal care products are available exclusively to and through dedicated Herbalife Independent Members in more than 90 countries. We are committed to fighting the worldwide problems of poor nutrition and obesity by offering high-quality products, one-on-one coaching with an Herbalife Member and a community that inspires customers to live a healthy, active life.
We support the Herbalife Family Foundation (HFF) and its Casa Herbalife programs to help bring good nutrition to children in need. We also sponsor more than 190 world-class athletes, teams and events around the globe, including Cristiano Ronaldo, the LA Galaxy and champions in many other sports.
The company has over 8,000 employees worldwide, and its shares are traded on the New York Stock Exchange (NYSE: HLF) with net sales of $4.5 billion in 2015. The Herbalife website contains a significant amount of financial and other information about the company at http://ir.Herbalife.com. The company encourages investors to visit its website from time to time, as information is updated and new information in posted. To learn more, visit Herbalife.com or IAmHerbalife.com.