Amway posts record sales
Amway’s parent company, Alticor Inc., reported record sales of more than $8.2 billion for the year ended Dec. 31, 2008, a 15 percent increase over 2007 sales. Two-thirds of the company’s 58 affiliates recorded sales increases in 2008, including strong growth in the China, Russia and India markets.
President Doug DeVos and Chairman Steve Van Andel acknowledged that Amway bucked downward economic trends in 2008, but cautioned that current global economic forecasts would challenge all companies in 2009. DeVos and Van Andel said that 2008 was marked by a renewed focus on communicating with consumers. Many top markets increased their outreach through advertising, social media and other means, they said.
“We’re looking to grow this year,” Van Andel said, “but there is some rough weather out there for the business community around the world.”
Amway does business through its distributor network in more than 80 countries and territories. The company’s flagship product brands include Nutrilite nutrition and wellness products, which attained a new milestone in 2008 of $3 billion in annual sales, and Artistry skin care and cosmetics, which also increased sales and market share. Nutrilite is the leading global brand of nutritional supplements, and was certified this year by Euromonitor as the worldwide leader in children's nutrition supplements. Artistry, one of the top five global prestige brands of skin care and cosmetics, increased its global market share from 13th to ninth in 2008.