Nu Skin Enterprise (NSE), a personal-care products maker, plans to invest close to $200 million in building stores and manufacturing facilities in China next year, to keep up with rising demand, said NSE President and CEO Truman Hunt.
The New York-listed company has invested over 450 million yuan ($73.8 million) in building a new office in Shanghai, its largest ever foreign investment, according to Hunt.
Greater China which includes the mainland, Hong Kong and Taiwan, reported $450 million in sales revenue for the first half of this year. It was the biggest revenue contributor for the company.
NSE was the first foreign-invested direct selling company licensed to do business in China. So far, the company has acquired admission to operate in 19 provinces and regions. |