Nu Skin Share Price & Profits Plunge
Due to China. Because China cracked down on illegal marketing and false claims in the beauty industry, and not too surprisingly, Nu Skin, who claim to be able to turn back ageing at the genetic level, were affected by that.
That’s not the first time this MLM has hit trouble in that country, as they were fined in March 2019 over illegal sales and misleading advertising that also saw a suspension placed on their recruiting of new distributors.
That had to hurt as that’s where the money’s really at in these MLM shit shows.
Of course Nu Skin spin the environment as “challenging” in China. I bet it is, when you’re prevented from lying in your advertising and actually have to find something positive to say about your products that’s true.
But let’s not celebrate too quick as it’s all relative. At end of last reported third quarter in 2019, revenue was down 13% world wide to $590m from $675m last year, with the drop in China of 23% helping to boost that figure.
So Nu Skin ain’t on Skid Row just yet, but they still felt that. The shareholders did anyway.
Like I said in my past review of this MLM, it’s just another money-sucking con game selling the same story of financial independence that all these huckstering companies foist. You’re the customer, not the folks you’re trying to flog this over-priced crap to in your friends list.
There’s nothing special about Nu Skin. If you want a moisturiser or anti-ageing product of the same dubious effectiveness, you can buy one at your local drug store or off the shelves next time you’re doing a supermarket shop.
Don’t try and inflict this on others, you’ll just get shunned. If you want a business, then find one where you’re not the customer doing the majority of the buying.
Also find one that works, not what looks like fun, and think throwing a Facebook page up is going to make your fortune.
Anyway, just a quick one, but one worth noting.