Anti-ageing priority at Nu Skin

       Nu Skin Enterprises, the US-based directselling business, will redefine itself as anti-ageing company after what it says is the biggest discovery in its 25 years,with new products to meet the needs of the rising population of older people globally.
       Dan Chard, the company's president of global sales and operations, said during a Bangkok visit last week that Nu Skin had been defined as a supplement and personal-care products company. But from now on it will be known as an "anti-ageing firm".
       Despite the poor economy and rising unemployment, the business of Nu Skin remains healthy with global sales up 4%to US$322 million in the second quarter of this year. This is because more people have turned to direct selling to earn additional income.
       "There are many places that have a big opportunity for us including Southeast Asia, Eastern Europe and even the US market where average purchasing rate has continued to increase over the past five years," Mr Chard said.
       In fact, he maintains that the only thing preventing direct-sales companies from growing steadily is failure to develop innovative products.
       He said Nu Skin next month would announce the introduction of "ageLoc",a new ingredient to be put into all Nu Skin anti-ageing lines, as well as its new anti-ageing strategies to grow in the long term. The new products will be launched in the US early next year and in Thailand in the middle of the same year.
       "The new product platform will [help]double sales of Nu Skin in Southeast Asia over the next three years, faster than its original plan," said Melisa Quijano, president of Nu Skin Enterprises,Southeast Asia.
       Currently, anti-ageing products are among the best-selling items of many skin-care and beauty firms, along with food supplements.
       Mrs Quijano said birth rates worldwide over the next 10 years would continue to drop while the number of ageing people is expected to grow significantly.Such customer groups also have high purchasing power, so companies such as Nu Skin will benefit.
       ageLoc, Nu Skin's new patented technology, is based on a research discovery that slows the effects of ageing sign on the skin.
       "We grew from nothing in the past 25 years to US$1.25 billion in 2009. With the newest anti-ageing discovery, it will help us to accelerate our growth faster than in the past," Mr Chard said.
       He said the company was highly confident of the growth potential of Thailand's direct selling business because it exceeded the sales target last year despite the economic downturn and political uncertainties.
       Currently, Nu Skin operates in 48 countries and will open another two new markets, in Colombia and Turkey.