RecommendEdit About Herbalife Smoothie & Juice Bar · Nutritionist · Health Food Store Herbalife Stacked.svg Increase Increase Increase Increase Decrease Herbalife International is a multi-level marketing company that sells nutrition, weight management and skin-care products. The company was founded in 1980, and it employs around 6,200 people worldwide. Herbalife reported net sales of US$4.072 billion in 2012, an 18% increase over 2011, and net income of $477.19 million, a 16% increase over 2011. Incorporated in the Cayman Islands, its corporate headquarters are in Los Angeles, California, United States. The company distributes its products in 88 countries (as of December 2012) through a network of approximately 3.2 million independent distributors, some of whom earn profit on product sales and additional commission from a multi-level marketing (MLM) compensation structure. The Commercial Court in Brussels, Belgium, has ruled the company to be an illegal pyramid scheme, a decision Herbalife is appealing. The company has been criticized by, among others, hedge fund manager Bill Ackman of Pershing Square Capital, who claimed that Herbalife operates a "sophisticated pyramid scheme" after taking a $1-billion short position in Herbalife stock. The company denies the allegations. History[edit source | edit] In February 1980, Mark Hughes began selling the original Herbalife weight management product from the trunk of his car. Hughes often stated that the genesis of his product and program stemmed from the weight loss concerns of his mother Joanne, whose premature death he attributed to an eating disorder and an unhealthy approach to weight loss. His goal was to change the nutritional habits of the world. His first product was a protein shake designed to help people manage their weight. He structured his company using a direct-selling, multi-level marketing model which attracted thousands of distributors (Herbalife Independent Distributors) who sold its products door-to-door or through word-of-mouth, without relying on commercial
Posted on: Fri, 20 Sep 2013 01:15:41 +0000
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