Herbalife, a global multi-level marketing corporation selling dietary supplements, recorded $283.7 million in net sales in Vietnam in 2024, a 1.7% uptick year-on-year, according to the firm’s report.
The fluctuations of the foreign exchange rate in Vietnam led to an unfavorable impact of $14.4 million on net sales last year. In local currency, the increase in net sales was 6.8% year-on-year, Herbalife added.
The higher net sales were recorded despite a 3.5% price increase starting March 2024, following a 3% rise in March 2023, Herbalife said. With the performance, Vietnam was among the biggest Asia-Pacific markets for Herbalife. India was the largest with $844.8 million, followed by China with $297.6 million.
Globally, in 2024, Herbalife recorded net sales of $5.06 billion.
Herbalife products distributed in Vietnam are produced by Herbalife Innovation & Manufacturing (HIM) Lake Forest and Winston-Salem, both based in the U.S. In Vietnam. Herbalife Vietnam SMLLC was established in 2009 and operates as a multi-level marketing business, with its headquarters in Ho Chi Minh City.
Vietnam is the 71st market where Herbalife has launched operations globally. By earnings, Herbalife is the largest multi-level marketing company in Vietnam.
According to the Ministry of Industry and Trade, Vietnam now has 19 licensed multi-level marketing businesses with