US direct selling company Nu Skin Enterprises has announced plans to start operations in Chile.
The company’s expansion into the Latin American country takes Nu Skin’s international market count up to 54. The company will introduce its personal care products to Chile on 2 November.
"Chile has become a strong direct selling market in Latin America, and we are optimistic it will be part of our continued growth in this region," said Truman Hunt, President and Chief Executive Officer of Nu Skin. "We have built a healthy business in Latin America and we look forward to introducing our scientifically advanced personal care products to consumers in this market. We believe the strength of our product portfolio will also attract business-minded individuals to our growing Latin American sales force."
The company's latest expansion strategy follows its announcement last month, which made its intention for the second half of 2015 plain and clear – a return to revenue growth. Nu Skin generated revenue of $560.2m in Q2 2015, down on the $650m it made in the same period in 2014. It was acknowledged that revenue was negatively impacted 7% by foreign currency fluctuations.
