Herbalife Vietnam holds 53% of sector’s H1 revenue

Herbalife, a U.S.-invested dietary supplement company, posted revenue of more than VND4 trillion ($151.61 million) in Vietnam in H1/2025, making up about 53% of the sector’s total, according to the National Competition Commission.

The sector’s total revenue fell more than 9% from a year earlier to over VND7 trillion ($265.33 million) in the period.

Herbalife and its four biggest rivals - Amway Vietnam, Care For Vietnam, Nu Skin Enterprises Vietnam, and Unicity Marketing Vietnam - together accounted for nearly 93% of the market, the commission said.

Revenue of multi-level marketing firms remained concentrated in dietary supplements and cosmetics, which contributed about 92% of the total, while household goods, fashion, equipment and other products made up roughly 8%.

They paid VND1.3 trillion ($49.28 million) in taxes to the state budget in H1.

The number of people participating in multi-level marketing fell 13.4% to 634,567 in the first half from 732,997 a year earlier, with 91% concentrated in Amway Vietnam, Care For Vietnam, Tiens Vietnam, and Unicity Marketing Vietnam.

New participants totaled 101,876, well below the 130,893 who exited, leading to a contraction in the sector from a year earlier.

In the first eight months of 2025, the commission inspected five multi-level marketing firms for regulatory compliance and imposed combined fines of nearly VND1.2 billion ($45,484) for administrative violations.

The commission also referred two cases of suspected unlicensed multi-level marketing involving Greenleaf and LucMall to the police for further action.

By the end of August this year, Vietnam had 16 licensed multi-level marketing businesses still operating, with about 768,000 participants, including one fulfiling procedures to terminate its operation.

The sector records total revenue of VND16.2 trillion ($614.04 million) last year, down from VND16.8 trillion in 2023.