How Nu Skin is Using Sci-Tech to Create Future Health and Beauty

Optimizing the opportunities that are presented during the ongoing fourth China International Import Expo in Shanghai is high on the agenda of many exhibitors. Ryan S. Napierski, CEO and president of Nu Skin, gives us his thoughts about the importance of participating in such an important global trade event.

Nu Skin is participating in the CIIE for the second time. What expectations does the company have for this year's exhibition?

For this time, we are appearing at the CIIE following the slogan "science and technology to create future health and beauty", integrating the sense of science and technology into every detail of our booth.

At our booth, Nu Skin's bestselling products and new products are being displayed, and a special area has been designed to display Nu Skin's sustainable development strategy and achievements.

What is your main impression of the CIIE?

What I feel most about the CIIE is that it provides a high-level and open platform for enterprises to display their products. Through the CIIE, we have a lot of communication opportunities and positive feedback, which provides an important reference for Nu Skin's future strategy and business planning in China.

What is Nu Skin's strategy in the current global economic environment?

Nu Skin was established in 1984 in Utah, the United States, and began to expand its global presence after being listed on the New York Stock Exchange in 1996. In 1990, we established our first international market in Canada. Today, our business covers approximately 50 markets in Asia, America, Europe, Africa and the Pacific region, among which China is one of the key markets in our global business. In 2020, Nu Skin's global market grew steadily with a global revenue of $2.58 billion.

Nu Skin regards globalization as an important part of its development strategy and hopes to provide better products and services to consumers through coordination and cooperation in various global markets. When developing in international markets, we pay special attention to the combination of our own advantages and the markets themselves, strictly abiding by local laws and regulations, and respecting local culture. In terms of our development strategy, we not only keep an international vision but also combine the characteristics of the local market.

How has Nu Skin developed in China?

The company entered the Chinese market in 2003. In 2014, Nu Skin invested nearly 500 million yuan ($78.15 million) in the completion of its China Innovation Headquarters Park in Shanghai, which is Nu Skin's largest ever overseas investment. Nu Skin has built five production bases and one R&D center in China. In 2018, the second phase project of the China Innovation Headquarters Park with a total investment of 360 million yuan in Fengxian district, Shanghai, begun construction. With additional investment, the company is expected to produce 80 million sets of personal care products by 2023.

China's quick recovery from the impact of the epidemic and resumption of work and production show the resilience of the country's industrial chain and the potential of its market. At the same time, the Chinese government has always adhered to the policy of high-level opening-up, so that our foreign enterprises can have the opportunity to share China's huge market and development opportunities, which has strengthened our confidence in investment and development in the country.

What is Nu Skin's approach to sustainable development?

In 2019, we clearly raised sustainable development to the strategic height of the group and formulated a sustainable development strategic plan containing the three dimensions of planet, products and people.

Nu Skin has made five commitments based on these three dimensions. It has already set up an environmental impact assessment system and completed assessing, scoring and improving the environmental impact scores of its 20 bestselling products. Additional commitments include to assess, score and improve the environmental impact of all our products by 2023, and to change all of our packaging to be recycled, recyclable, reusable, reduced or renewable by 2030.

We will also work to create a global zero-waste facility to reduce carbon emissions. More than half of the money raised by our Force for Good Foundation will go to organizations and individuals that provide vital resources for the planet and its people.

Ryan S. Napierski, CEO and president of Nu Skin