Multi-level marketing firm Herbalife Vietnam records $299 mln net sales in 2022
Herbalife Nutrition Ltd., a global multi-level marketing (MLM) firm providing dietary supplements and skincare products, recorded net sales of $298.9 million in Vietnam in 2022, up 9.6% year-on-year.
According to the firm’s annual report for 2022, net sales increased 11.8% in terms of local currency (Vietnamese dong). However, exchange rate fluctuations led to an unfavorable impact of $5.9 million in the year, Herbalife said.
The business also highlighted that pandemic-related operating constraints were generally eased in the market last year. Besides, further changes to direct-selling regulations in the market are expected to receive government approval in 2023, according to the report.
The Vietnamese market has seen several years of sales volume growth as sales leadership focused on sustainable and consumption-oriented business practices, while the number of product access points increased, it said.
Products of Herbalife. Photo courtesy of the company.
In the Asia Pacific, not including China, Herbalife’s net sales went up 6.4% year-on-year to $1.67 billion last year. India was the largest market with net sales of $677 million, up 30.4%. Net sales in China dropped 37.9% year to $391 million.
According to the Ministry of Industry and Trade, Vietnam has 19 MLM firms as of March 2023. Total revenue of the MLM sector grew 24% year-on-year from VND15.44 trillion ($657 million) in 2020 to VND19 trillion ($809 million) in 2021, according to the ministry.
- Related News
- Read More
Vietnam's 5-month registered FDI hits $18.4 bln, up 51%
Registered foreign direct investment (FDI) in Vietnam hit $18.4 billion in the first five months of the year, up 51.1%, while disbursed capital reached $8.9 billion, up 7.9%.
Economy - Thu, June 5, 2025 | 6:52 pm GMT+7
Indonesia launches economic stimulus package to boost purchasing power
The Indonesian Government has rolled out an economic stimulus package worth IDR24.44 trillion (nearly $1.53 billion) to maintain consumer purchasing power and stabilize the national economy.
Southeast Asia - Thu, June 5, 2025 | 4:06 pm GMT+7
Vinhomes subsidiary to develop two industrial parks worth $383 mln in northern Vietnam
Vinhomes Hai Phong Industrial Park Investment JSC under Vinhomes, the housing arm of Vietnam’s conglomerate Vingroup (HoSE: VIC), is expected to be the investor of two industrial parks worth VND10 trillion ($383 million) in the northern port city of Hai Phong.
Real Estate - Thu, June 5, 2025 | 3:54 pm GMT+7
Agriculture drives Indonesia’s economic growth
Agriculture is emerging as a key driver of Indonesia’s economic growth, especially in the first quarter of 2025, according to the latest report by the Indonesian Institute for Development of Economics and Finance (INDEF).
Southeast Asia - Thu, June 5, 2025 | 3:46 pm GMT+7
Vietnam's logistics heavyweight Gemadept plans over $38 mln buyback if shares plunge
Gemadept, Vietnam's leading port and logistics company, listed on the Ho Chi Minh Stock Exchange as GMD, plans to buy back 21 million shares, equivalent to 5% of its outstanding shares.
Companies - Thu, June 5, 2025 | 3:32 pm GMT+7
Vietnam, US to hold third round of reciprocal trade pact talks in first half of June
The third technical round of negotiations for a reciprocal trade agreement between Vietnam and the U.S. is expected to take place in the first half of June, as agreed by their trade ministers on Wednesday.
Economy - Thu, June 5, 2025 | 3:22 pm GMT+7
Housing developer Vinhomes, consortium partners win bid for $10 bln urban area project in central Vietnam
Vinhomes, the housing development arm of Vietnam’s conglomerate Vingroup (HoSE: VIC), and its consortium partners have won the bid to develop a VND260.3 trillion ($9.97 billion) urban area project in the south-central province of Khanh Hoa.
Real Estate - Thu, June 5, 2025 | 12:15 pm GMT+7
Agriculture ministry proposes police probe into allegations C.P. Vietnam sold 'diseased pork'
The Ministry of Agriculture and Environment on Wednesday asked the Ministry of Public Security to investigate social media allegations that C.P. Vietnam, a subsidiary of Thailand’s food giant Charoen Pokphand Foods Public Company Limited (CPF), sold “diseased pork.”
Companies - Thu, June 5, 2025 | 8:32 am GMT+7
Vietnam a strategic manufacturing hub in Asia amid global supply chain reshuffle: exec
Vietnam has emerged as a strategic manufacturing hub in Asia amid the substantial restructuring of global supply chains, said Dhamcharee Varaporn, managing director of RX Tradex Thailand & Vietnam, a leading exhibition organizer.
Companies - Thu, June 5, 2025 | 8:00 am GMT+7
Vietnam's major developer Tan Hoang Minh wants to make Da Lat 'Asia’s most livable town'
Do Anh Dung, chairman of Tan Hoang Minh, on Tuesday proposed that authorities of Lam Dong province support the property developer in planning a 4,320-hectare smart urban area project in the resort town of Da Lat.
Real Estate - Wed, June 4, 2025 | 10:36 pm GMT+7
Vietnam’s economic landscape 'positive' amid global headwinds: Prime Minister
Vietnam’s socio-economic situation has been trending positively, with stable macroeconomic conditions, inflation under control, and major economic balances well maintained, says Prime Minister Pham Minh Chinh.
Economy - Wed, June 4, 2025 | 5:23 pm GMT+7
Unleashing the quantum power in banking
While quantum computing remains in its early stages, its potential to reshape the financial landscape is undeniable. Institutions that act now, by investing in research, forming strategic partnerships, and deploying pilot use cases, will be at the forefront of this transformation, writes Phillip Wright, COO at HSBC Vietnam.
Consulting - Wed, June 4, 2025 | 3:59 pm GMT+7
How Jardine Matheson expands footprint in Vietnam
From a quiet financial investment in 2008, Jardine Matheson, a diversified, Asia-focused investment company based in Bermuda, has steadily expanded its influence in Vietnam, one of Southeast Asia’s fastest-growing economies.
Companies - Wed, June 4, 2025 | 2:57 pm GMT+7
Vietnam, Japan see 'strong collaboration prospects in developing green, eco-friendly products'
Vietnam and Japan have vast potential for cooperation in the development of green and environmentally friendly products, said general secretary of the ASEAN-Japan Center (AJC) Kunihiko Hirabayashi.
Economy - Wed, June 4, 2025 | 12:16 pm GMT+7
Quynh Lap LNG-fired power project in central Vietnam seeks in-principle approval
The $2.15 billion Quynh Lap LNG-fired power project, located in Nghe An province, is drawing significant interest from both international and domestic investors.
Energy - Wed, June 4, 2025 | 9:28 am GMT+7
Indonesia's coal exports dip on weak demand
Indonesia's coal exports dropped 6.43% to 160 million tons during January-April, according to the Energy and Mineral Resources Ministry.
Southeast Asia - Wed, June 4, 2025 | 8:48 am GMT+7
