PROVO, Utah, July 7, 2005 /PRNewswire-FirstCall via COMTEX/ -- Nu Skin Enterprises, Inc. (NUS) today announced the upcoming launch of business operations in Indonesia on Aug. 8, 2005. As the company's 41st global market, Indonesia is expected to augment the company's strength in its growing Southeast Asia region.
"Distributor interest in Indonesia has been high, and we have invested a great deal of effort preparing for this opening," said president and chief executive officer Truman Hunt. "Indonesia is one of the top 25 direct selling markets in the world and has nearly doubled in size over the past five years, reaching more than $500 million in annual sales. We look forward to developing a solid market in Indonesia as we offer our innovative products and compelling business opportunity to the 240 million people who live there."
Indonesian operations will be directed by new general manager Agung Sardjono, a seasoned executive in the direct selling industry who arrives at Nu Skin Enterprises after leaving a 15-year post as president director of Avon Indonesia. Sardjono, a former secretary general of the Indonesia Direct Sellers Association, will oversee all Nu Skin Indonesia operations and be responsible for the development and management of all marketing programs, including initiatives to gain distributor support and foster distributor retention.
"We are pleased to have Agung join us as general manager for this important new market," Hunt said. "I am confident that his deep understanding of the direct selling industry and his executive management experience will help us to further establish our leadership position in the region."
The Nu Skin division will introduce skin care products from its Nutricentials(R) daily skin care line, as well as its Scion(R) personal care offering. Initially, the Pharmanex product offering will feature LifePak, the company's flagship nutritional supplement.
For more information regarding Nu Skin Enterprises' Indonesian operations, please visit www.nuskin.com/id.
Nu Skin Enterprises, Inc. is a global direct selling company operating in over 40 international 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 products and services under the Big Planet(R) brand. Nu Skin, Pharmanex and Big Planet are registered trademarks of the company and its affiliates.
Nu Skin Enterprises' press releases are available online at www.nuskinenterprises.com.
Please note: This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that represent the company's current expectations and beliefs, including, among other things, the anticipated commencement of operations in Indonesia and our expectations for this market. These forward-looking statements are subject to various risks and uncertainties including, without limitation, any delays in our ability to commence operations as a result of any unanticipated logistical or product registration issue, and any inability to successfully penetrate this market and gain market acceptance of our products and sales compensation plan. These forward-looking statements are further qualified by a more detailed summary of the risks applicable to our business set forth in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and our most recent Quarterly Report on 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.