In May, Cosmetic Executive Women named
RareMinerals Blemish Therapy the 2008 winner in the
facial and skin care category for acne treatment.
Last month, Bare Escentuals named Michael Dadario as
president of retail. In this role, he will be responsible for
Bare Escentuals’ overall retail strategy and execution
including merchandising, sales and operations for all
domestic brick-and-mortar distribution channels, including
Bare Escentuals boutiques, premium wholesale locations,
and spas and salons.
29. Nu Skin
Sales: $498 million
Sales: $498 million. Corporate sales: $1.16 billion. Net
income: $43.7 million.
Key Personnel: M. Truman Hunt, president, chief executive
officer; Blake Roney, chairman of the board; Steve Lund,
vice chairman of the board, executive director of Nourish
the Children; Sandie Tillotson, senior vice president;
Daniel Chard, executive vice president of distributor success; Scott Schwerdt, president, Americas, Europe and
Pacific; Ritch Wood, chief financial officer; D. Matthew
Dorny, general counsel, chief legal officer.
Chief Scientific Officer: Joseph Y. Chang, chief scientific
officer and executive vice president of product development.
Chief Marketing Officer: Ashok Pahwa.
Major Products: Nu Skin 180º Anti-Aging Skin Therapy
System, Galvanic Spa System II, Tru Face Essence Ultra,
Major Products: Tru Face Essence Ultra, Epoch Baobab
Body Butter. To be launched: Anti-aging skin treatments.
Comments: This global direct selling company reported a
4% rise in sales. According to Nu Skin’s 2007 annual report,
2007 was a turnaround year for the company. Sales fell in
2006, but Nu Skin’s efforts to generate renewed growth
during 2007 were successful. For the year, the company
generated a 4% revenue growth, achieving its second-high-est revenue year in Nu Skin’s 23-year history.
The company concluded 2007 with sales of $1.16 billion.
According to the company, strong performances in most of
its markets contributed to these results, including successes in South Korea, the U.S., Eastern Europe, Southeast
Asia and Hong Kong. These markets have been able to capitalize on strong product initiatives, including the Galvanic
Spa System II, an in-home spa system focused on reducing
the visible signs of aging. In addition, the company’s flagship products, the Pharmanex LifePak multivitamin line
and the Nu Skin 180 Skin Care System, continued to hold
Nu Skin’s 2007 revenue met its original growth target of
3-5%, notwithstanding larger than anticipated declines in
Japan and China. However, its earnings per share (EPS)
growth fell short of target. This was due to a lower-than-anticipated gross margin as its revenue mix shifted from
Japan to lower-margin markets, and higher-than-expected
losses in unprofitable markets, especially China. According
to the company, it made significant steps to address these
issues in the sec-
ond half of 2007,
putting it on a
path to enjoy
growth in 2008.
Key 2007 restructuring steps
included management changes in
key markets of
Japan and China,
180° Anti-Aging Skin Therapy. Gary Sumihiro in
Japan to lead
business there and 18-year Nu Skin veteran Andrew Fan to
head China. In the fourth quarter of 2007, Nu Skin simplified its operations in China by closing approximately 70
stores and reduced its corporate headcount by more than
50%. The company also closed its Brazil operations in mid-
2007, with an expected savings of approximately $2 million
The company also launched a new strategic positioning
to its distributor leaders at its global convention in
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