D. Petruzzi
Research expert covering Cosmetics, Personal Care, Health & Hygiene industries.
Nu Skin Enterprises - statistics & facts
Founded in 1984, Nu Skin Enterprises, Inc. is an American beauty and wellness company headquartered in Provo, Utah. It specializes in the manufacturing and selling of cosmetic and personal care products as well as dietary supplements, under brands such as Nu Skin and Pharmanex. In 2023, Nu Skin Enterprises was one of the leading direct selling retailers globally, operating in about 50 markets, many of which are in Asia, Europe, and Africa. In the three months preceding December 31, 2023, the number of Nu Skin customers in the Americas amounted to over 200 thousand. Meanwhile, approximately 3,700 employees worked for Nu Skin Enterprises. Lately, the company has been focused on developing anti-aging products, and has often been in the news thanks to its innovative at-home beauty device systems, that is facial skin care devices which are used alongside topical formulations in order to improve skin appearance, reduce blemishes or offer a deep cleansing.
Nu Skin’s key figures
In 2023, Nu Skin Enterprises generated a global revenue of approximately two billion U.S. dollars, a decrease compared to the previous year, when this value amounted to around 2.23 billion U.S. dollars. The Americas and Mainland China were Nu Skin's most profitable regions, generating a revenue of about 398 and 298 million U.S. dollars, respectively. The company’s latest figures show that its gross profit also experienced a slight decrease, and added up to approximately 1.4 billion U.S. dollars as of 2023. Among all Nu Skin product categories, the wellness segment proved to be the most lucrative of all, generating about 886 million U.S. dollars’ worth of revenue in the last year.Nu Skin Enterprises’ main competitors
Nu Skin Enterprises, Inc. is currently one of the leading direct selling companies in the United States, among others such as Mary Kay, which generated a revenue of around 1.8 billion U.S. dollars in 2023, and Amway, whose annual sales were equal to roughly 7.7 billion U.S. dollars in the same year. Some of Nu Skin Enterprises’ competitors also include Herbalife Ltd., a dietary supplements producer and seller, and Usana Health Sciences, Inc., which specializes in skin care and nutritional products. In 2023, Herbalife had global net sales amounting to approximately 5.1 billion U.S. dollars. In the same time frame, the global net sales of Usana Health Sciences decreased from over 1.18 billion U.S. dollars in 2021 to 921 million U.S. dollars as of 2023.
