Nu Skin Enterprises, Inc., announced today that it has received official notification from the Chinese Ministry of Commerce of its approval to commence direct selling activities in four cities in the Guangdong province and Shenzhen City. The latest government approval gives Nu Skin Enterprises the opportunity to offer a direct selling opportunity to residents of approved cities in Guangdong, the second-largest province in China with a population of more than 94.5 million. The company has already received licenses to operate in Beijing and Shanghai.
"We are pleased to begin our 25th Anniversary Year with the opportunity to expand our direct selling model in China," said Truman Hunt, president and chief executive officer. "We continue to see great potential in this market and believe our ability to expand our direct selling model to those in the Guangdong province will have a positive influence in the China market. Overall, we are confident in the direction of our global business operations and look forward to executing on our 2009 business plans."
Nu Skin Enterprises, Inc. demonstrates its tradition of innovation through its comprehensive anti-aging product portfolio, independent business opportunity and corporate social responsibility initiatives. Nu Skin's scientific leadership in both skin care and nutrition has established Nu Skin as a premier anti-aging company, evidenced in its patent-pending ageLOC(TM) technology and flagship products including the Galvanic Spa(R) System II, Tru Face(R) Essence Ultra, LifePak(R) nano and the g3 nutrition beverage. A global direct selling company, Nu Skin operates in 48 markets throughout Asia, the Americas and Europe and has more than 750,000 independent sales representatives. Nu Skin Enterprises is traded on the New York Stock Exchange under the symbol "NUS." More information is available at http://www.nuskinenterprises.com.
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 direct sellers 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.