Hot Business News Today

Hot Business News Today

Amway To Make India Exporting Hub

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Times of India reports: 
Direct selling major Amway plans to make India an export hub for its operations in Middle East and South Asian countries, even as its business growth here has slowed down due to lack of clarity for applicable regulations. 
The company also said there is an urgent need for detailed regulations to distinguish genuine direct sellers from sham players and to give a sense of legitimacy to the industry. 

“We need more clarity in the regulations so that the growth level is up. Few years ago, it had a very strong double digit growth which has slowed down and there is a need for a better understanding of legitimate direct selling company,” Amway managing director & CEO William S Pinckney told PTI. 

Amway, which is setting up Rs 600 crore unit at Nilakottai in Tamil Nadu is also looking for further expansion along with additional plant as the company is mulling to make India a hub for its Middle East and neighbouring countries as Sri Lanka, Bangladesh etc. 
“We are looking outside Indian markets, like Sri Lanka, Bangladesh, UAE, Middle East. We think and believe that India can be an export hub to those market. That could cause us more quickly for look for more investments

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Regal Ware Moving Into Direct-Selling Mode

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A century-old cookware manufacturer based in Kewaskum said it will sign a deal next week to sell products through a firm in China that does direct marketing to consumers, like Amway Corp. or Mary Kay Cosmetics in the United States.
Regal Ware Inc. says its products will be sold through a network of 2 million sales consultants worldwide and 2,500 storefronts in China. The marketer, Joymain Science & Technology Inc., had about $1.5 billion in sales this year and expects $2 billion in 2015, according to Regal Ware.
Joymain’s products include household and health items. The company has a U.S. affiliate, JM Ocean Avenue, that sells nutritional supplements and personal care items.
Most of the company’s business is in China, where Regal Ware also has sales but now stands to gain a much bigger share of the cookware market.
Regal Ware manufactures its products in Kewaskum and West Bend. More than half of the company’s sales are outside of the U.S., said David Lenz, senior vice president of sales and marketing.
Regal Ware says it expects to begin shipping products to Joymain in mid-2015. It was introduced to the Chinese firm through an international business broker.

“We understand the direct-sales business, and Joymain was very attracted to

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Is Uber car service really worth $40 billion?

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Can a company that didn’t exist five years ago, an upstart with a knack for angering regulators with the power to close down its business, really be worth $40 billion? That is the figure that had investors from Wall Street to Silicon Valley abuzz a day after Uber announced it had received more money from venture capitalists than any private company this year.

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Industry Leaders Andrew & Nancy Burling Join ForeverGreen

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ForeverGreen Worldwide Corporation, a leading direct marketing company and provider of health-centered products, announced that recognized industry leaders and top earners Andrew and Nancy Burling are among the newest members of the fast-growing international network that is ForeverGreen.
With more than 40 years of combined experience in the industry, they were not actively looking for a new opportunity. However, the Burlings were drawn to ForeverGreen by the category-creating FGXpress model that has been driving the company’s growth. Mr. Burling said, “We believe ForeverGreen with FGXpress is destined to become a dominant brand in the network marketing industry. Shipping a physical product and paying commissions in more than 175 countries during a pre-launch phase was eye-opening and astonishing. We knew something big was going on, and we immediately wanted more information. When the timing was right, we made the call, flew in, and shifted our total focus to ForeverGreen.”
On October 8, 2014, the Burlings’ Global Win Team arrived in Utah with more than 100 prospective members to take a look at ForeverGreen. “The culture of ForeverGreen is very warm and welcoming. The response was astounding. The timing was perfect, and the experience has created a frenzy of continued activity,” Mr. Burling said.

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India’s Direct Selling Industry Has Potential To Engage 18 Million Sellers By 2025: Report

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The report indicated that with the right policy stimulus, this industry might well reach its potential of Rs. 64,500 crores, a nine-fold increase in twelve years.
Paswan released this report along with Keshav Desiraju, Secretary Consumer Affairs, Sidharth Birla – President of FICCI, Kurush Grant ED of ITC, as well as other industry representatives.
The FICCI conference was attended by a number of India and global industry dignitaries and other stakeholders.
Direct selling is a global industry, operating in over 100 countries with a market size of USD $167 billion. It refers to the selling of goods and services to the consumers away from a fixed retail outlet, generally in their homes, workplace etc., through explanation and demonstration of the product by direct sellers. USA, Japan and China are key markets for the industry.
In India the market is estimated to be around Rs. 7,200 crores, which is a far smaller percentage of the size of the economy, when compared to other countries. The FICCI-KPMG white paper launched highlights the challenges faced by the industry in India, and suggests a roadmap for enabling the industry going forward.
At the release, the Union Minister said, “I acknowledge the contribution of Direct Selling industry towards offering greater

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Thirty-One Gifts Donates 250,000 Gifts To Today Show Toy Drive

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Cindy Monroe, Founder, President and CEO of Thirty-One Gifts, appearance on “The TODAY Show” announced their donation to the 21st annual TODAY Show Toy Drive. 
The donation of 250,000* products is one of the largest TODAY Show Toy Drive donations in the country. With this year’s give, they’ve donated more than 1 million items, totaling $24 million in product. Thirty-One Leaders are helping distribute products to select organizations throughout the country.
Partnering with the TODAY Show Toy Drive has become a holiday tradition for Thirty-One Gives, the charitable initiative of Thirty-One Gifts. 
*Thirty-One Gifts LLC’s maximum donation will be 250,000 products.

About Thirty-One Gifts

“Just over 10 years ago, Thirty-One was formed with a simple goal of helping women by giving them an opportunity to own their own business. Through God’s strength, we’ve built a family of individuals who feel women deserve to treat themselves and those around them to something special. That mission is at the center of everything we do as a company.”

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SEC On Lookout for Web-Based Pyramid Schemes

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The Wall Street Journal released the following article: 
Illustrated by a sack full of dollar bills, the online pitch was simple: an “amazing and irresistible” opportunity to join a global direct-sales travel company, recruit others and enjoy a share of the profits.
The company, GoFunPlaces Inc., was going to go viral via Facebook and YouTube, making it easy for “Joe Average [and] Suzy Average” to earn money.

“You can win here! You can win!” a 2012 video said. “The longevity is going to be here.”

Within a year, GoFunPlaces closed its U.S. operations and faced scrutiny from the Federal Bureau of Investigation and the Securities and Exchange Commission over whether the company was a pyramid scheme or involved in other fraud, according to people close to the probes.
The SEC this fall shut down a company that owned half of GoFunPlaces, alleging it was a fraudulent $129 million pyramid scheme.
A lawyer representing GoFunPlaces didn’t respond to requests for comment and the company itself couldn’t be reached. GoFunPlaces hasn’t been accused of any wrongdoing by the government.
Direct-sales is more popular than ever: A record 16.8 million Americans—representing about one in every seven U.S. households—worked in the industry last year, most for companies that employ networks of

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