Direct sales player Nu Skin says it is targeting further expansion in the Greater China region through the recruitment of more sales staff.
The company says that the recruitment drive is part of ambitions to reach a sales goal of $1 billion per year by 2014 in the region, which includes the China mainland and its territories.
An 'aspirational target
"In 2010, when we set our $1 billion sales goal for the Greater China region, it seemed like an aspirational target," said Truman Hunt, Nu Skin chief executive officer.
"However, with momentum building in the region and the positive response we are receiving from customers in this growing market, we now believe the goal is achievable well within the original time frame.”
Truman went on to say that the company’s longer-term goal is to target global revenues of $5 billion by the year 2020, a goal that is built around the company’s age LOC anti-ageing cosmetics brand, together with its weight management system scheduled to be launched later this year.
Eyeing further growth in South Korea
The company also said that it is targeting further sales growth in the South Korea market, and will be hosting its Nu Skin Korea convention in Seoul next week as part of its targeted campaign there.
In September last year the company announced a five year plan to expand the business in China, targeting continued growth in the market as a means of growing the business.
In 2012, the company said that huge growth in both China and the Japan market had helped to drive up full year sales by an impressive 24 per cent to $2.17bn, while net income increased from $153m to $222m.
The company is due to release its full financial results for the first quarter of 2013 on May 2, when it will also provide additional information on the outlook for the full financial year.