September 25, 2012

Nu Skin to expand retail presence in China

Nu Skin China, a subsidiary of US-based cosmetics manufacturer Nu Skin enterprises, plans to triple the number of retail stores in mainland China.

By admin-demo

Nu Skin China, a subsidiary of US-based cosmetics manufacturer Nu Skin enterprises, plans to triple the number of retail stores in mainland China.

The move is part of the chain’s five-year business development plan that was announced on 21 September 2012 that envisages the expansion of its sales support centers by 2017.

The company is also looking to expand its direct selling coverage and distribution model to generate higher levels of market penetration.

Nu Skin Greater China region president Andrew Fan said with nearly a ten years of operational experience in China, the company is planning to build a foundation of success to sustain growth in the Chinese market.

"In terms of infrastructure, our plans include increasing our physical presence in the market by tripling the number of stores and sales support centers, as well as completing our previously announced, $55 million Innovation Park and Greater China regional headquarters in Shanghai," Fan added.

As per its new physical facilities plan it will update existing outlets throughout China besides expanding physical locations, with the goal of tripling the number of stores and sales support centers over the next five years.

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Nu Skin believes that the locations will increase the company’s presence over a wider area, providing more effective and comprehensive services to consumers and supporting different channels of product distribution throughout China.

The firm said it has also initiated the construction of a new Innovation Park in Shanghai, which is scheduled for complete by the end of 2013 to accommodate a new research and development center and increase manufacturing capacity.

Nu Skin currently operates in 53 markets worldwide.