Avon Products Inc is seeking approval of a $62 million settlement of a U.S. lawsuit accusing the cosmetics company of defrauding shareholders by concealing its failure to stop workers from bribing officials in China to win business.
The proposed settlement was filed on Tuesday with the U.S. District Court in Manhattan and requires a judge’s approval.
It resolves claims that Avon, former Chief Executive Andrea Jung and former Chief Financial Strategy Officer Charles Cramb, intended to mislead shareholders from 2006 to 2011 about the company’s ability to comply with the federal Foreign Corrupt Practices Act, which prohibits bribing foreign officials.
Shareholders led by two German investment funds said Avon embraced a corporate culture that was “actively hostile” to effective oversight and concealed its dependence on corrupt activity such as “dinner and karaoke” events to boost
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NuSkin 2015 Q2 – Down 7% To $560.2 Million
by Nicole Dunkley • • 0 Comments
US direct selling cosmetics company Nu Skin Enterprises has made its intention for the second half of 2015 plain and clear – a return to revenue growth.
Despite the company generating revenue of $560.2m in Q2 2015, down on the $650m it made in the same period in 2014, it was acknowledged that revenue was negatively impacted 7% by foreign currency fluctuations. The company’s President and CEO, Truman Hunt, said he was “pleased with the direction of the business” and confirmed that the company anticipates a return to revenue growth in the second half of the year.
Looking at all of Nu Skin’s active markets, there were declines across the board in both Q2 and half year revenue results. However, on a constant currency basis, the Americas did manage a 5% increase in revenues
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Jusuru Product Named Editor’s Choice Award Finalist
by Ramya Chandrasekaran • • 0 Comments
Informa Exhibitions has named Liquid BioCell™ Life by Jusuru International as one of its finalists for the 2015 SupplySide CPG Editor’s Choice Awards.
Five 2014 consumer packaged goods (CPG) products were selected by the SupplySide editorial team for achievements in innovation and market impact in 17 different categories. Liquid BioCell™ Life was named to the short list in the Joint Health Supplements category. Primary consideration for the award will be given for unique formulation based upon research results, proof of high quality, certifications, branded ingredients, delivery innovation, and transparency in the supply chain. Liquid BioCell™ met the judging committee’s high standards according to these areas of product evaluation.
One winner in each category will be announced at SupplySide West 2015 during the SupplySide CPG Editor’s Choice Awards Presentations, set for October 7th and 8th
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How ItWorks! Drove Over $1 Billion In Sales
by Tina Williams • • 0 Comments
Molly Mulshine from Tech Insider shares:
I’ve started seeing promotional weight-loss posts from people I know on Facebook and Instagram.
Sandwiched between party photos and wedding announcements, the posts show stomachs, legs, and arms before and after application of “this crazy wrap” that can “tighten, tone, and firm” with “minimized appearance of cellulite” and “fast and lasting results” in “as little as 45 minutes.” Similar posts endorse “fat fighter” pills, eye cream, menopausal supplements, “greens” powder that can “detoxify, energize, and alkalize,” and “defining gel” that does wonders on wrinkles.
These people, mostly women, also tell me they’re making thousands of dollars selling this stuff.
As if that weren’t enough, they’re inviting me to join.
Many of these women are selling products for a company called It Works!
If you think their product or the business opportunity sound too good to be true, then you’re not alone. What
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Trévo Experiences Explosive Success In India
by Ted Nuyten • • 0 Comments
Trévo LLC, the nutritional supplement company that started in Oklahoma City, Okla. USA, in 2010 and has since expanded into 22 markets worldwide, is finding explosive success in one of its newer markets. Despite a slightly slow start to its business in India, Trévo is now seeing a tremendous upswing in this country with unlimited potential to become a major player in India.
Last year, Trévo made the decision to really focus on the India market in 2015, and while there are countless testimonies and stories to be told, the proof of this growth is in the numbers. This year, Trévo India has experienced a 28% month-to-month increase in revenue. Trévo President and CEO, Mark Stevens, believes that figure is a true testament to the tremendous leadership the company has in place both
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Amway’s Made In America Is In High Demand In China
by Tina Williams • • 0 Comments
Wall Street Journal reports: Amway Corp. is betting that a “Made in the U.S.A.” label will hold its appeal with consumers in Asia.
The direct seller is spending $200 million on four new factories and a new research lab in the U.S., including a new plant in its home state that will make soft-gel casings for dietary supplements and other pill products.
The investment comes even as the company sees some of its fastest growth in emerging markets far from its headquarters in Ada, Mich. Manufacturing in the U.S. for buyers in Asia adds costs to Amway’s supply chain and up to three weeks to the time it takes to bring a product to market. That can make it difficult to respond to fast-changing consumer tastes.
But the company hopes those disadvantages will be outweighed
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QNET Contributes Survivor Kits For Flood Victims In Myanmar
by Ramya Chandrasekaran • • 0 Comments
In the wake of flooding that has devastated vast swathes of Myanmar, Asian direct selling company QNET has collaborated with its distributors and its local partner to donate survivor kits worth USD20,000.
The company brought the emergency supply to one of the worst-affected area of Ingapu Village/Hinthada area in the Irrawaddy district recently. The contribution by QNET and supported by its strong network members, brought cheers and some relief to the flood victims there as they have been enduring historic flooding for the past weeks.
Led by QNET’s Myanmar Agency Head, Kyi Min Han, QNET Corporate staff and 100 QNET IRs, they waded in deep-knee waters and distributed the survivor kits which among others contained basic necessities such as rice, instant noodle, bread, milk powder, mineral water, basic healing medicine, mosquito nets and torchlights to
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David And Debbie Reeder – Vemma Hit Royal Ambassador
by Ted Nuyten • • 0 Comments
Six years ago, David and Debbie Reeder decided to leave Vemma to seek out another opportunity. “We were distracted,” admits Debbie, reflecting on the four-year season. “You don’t know what you have until it’s gone.” Exactly 26 months ago, the pair returned, but this time, they were different people with a different level of commitment.
“We made a decision to be committed. It wasn’t ‘we’ll try this and see what it’s like in six months,’” explains David. “If you want to be successful in this business, you have to have resolve. You’ll find reasons to leave and shiny things that come along will take your focus off of what you want to accomplish.”
That self-described “tenacious” nature has paid off this time around as the couple has diligently focused, built deep and continued to
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DSA’s Joe Mariano: Lessons Learned From the Old, New Economy
by Ramya Chandrasekaran • • 0 Comments
President of the US Direct Selling Association (DSA) Joseph Mariano writes in the Morning Consult about the role of innovation and technology in the rise of the sharing economy and draws a parallel with the thriving Direct Selling industry in America.
The recent debate swirling around the so-called “gig” economy has policymakers at all levels paying closer attention to – and even weighing in on – the status of independent workers and how they’re faring in today’s economy. And while many consider this a relatively nascent issue that has arisen alongside the advent of new ride- or real estate-sharing services, the fact is, independent workers have been an important part of our economy for years. In reality, what’s changed more recently is not the sudden emergence of this workforce, but rather the
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Turkish Direct Seller Incir Among Europe’s Hottest Start-Ups 2015
by Ramya Chandrasekaran • • 0 Comments
Popular technology magazine Wired has named Turkish Direct Seller Incir as one of Europe’s hottest start-ups in 2015.
Wired has been producing producing the annual guide to Europe’s hottest startup cities for five years using a wide local network to help identify the rising stars in Europe’s tech scene.
According to Wired, ‘We define “hot” as being talked about locally by people who matter: it’s about buzz, not valuation or market size.’
Incir established in 2012 by serial entrepreneur Yusf Yildirim helps its customers set up an e-commerce platform, but takes care of the back end — from payment processing to the production of marketing materials. Incir is Turkey’s first end-to-end e-commerce solution, covering the full range of an e-commerce store’s operational requirements so that its users can focus exclusively on selling from a catalogue of