PROVO, Utah, Jan 08, 2008 /PRNewswire-FirstCall via COMTEX/ -- Nu Skin Enterprises, Inc. (NUS) announced today that it has received official notification from the Chinese Ministry of Commerce to commence direct selling activities in all 18 districts in Beijing and four additional districts in Shanghai, allowing the company to operate a direct sales model in all 12 Shanghai districts. The latest government approval gives Nu Skin Enterprises authorization to offer a direct selling opportunity to the more than 37 million people residing in Beijing and Shanghai.
"We are optimistic about our business plan for 2008 and pleased to start the new year with the official approval to expand our direct selling model in China's key municipalities of Shanghai and Beijing," said President and Chief Executive Officer Truman Hunt. "We will continue working through the appropriate regulatory channels to secure additional direct selling approvals in the country's other important geographies. Overall, we continue to see great potential in China and are confident in our local management team and its ability to move the market forward."
Nu Skin Enterprises, Inc. is a global direct selling company operating in more than 45 markets throughout Asia, the Americas and Europe. The company markets premium-quality personal care products under the Nu Skin(R) brand, science-based nutritional supplements under the Pharmanex(R) brand, and technology-based products and services under the Big Planet(R) brand. Nu Skin Enterprises is traded on the New York Stock Exchange under the symbol "NUS."
Please note: This press release contains forward-looking statements that represent the company's current expectations and beliefs, including, among other things, the Company's plans and expectations for China. The company's roll out of direct selling in China and the forward-looking statements involve risks and uncertainties that could cause actual results and outcomes to differ materially from any forward-looking statements or views expressed herein. These risks and uncertainties include, but are not limited to, the risk that the regulatory environment in China is rapidly evolving and the Company's operations could be harmed by subjective interpretations of laws or an inability to work effectively with national and local government agencies; a high level of regulatory scrutiny and risks of investigations and actions by regulators if they make a determination that the Company or its sales employees or distributors are in violation of applicable regulatory requirements; and uncertainty related to the Company's implementation of a modified business model for this market. The forward-looking statements contained herein are further qualified by a detailed discussion of associated risks set forth in the documents filed by the company with the Securities and Exchange Commission, including the company's most recent Form 10-K and Form 10-Q. The forward-looking statements set forth the company's beliefs as of the date of this release, and the company assumes no duty to update the forward-looking statements contained in this release to reflect any change.