Herbalife
In February 1980, Mark Hughes began selling the original Herbalife weight loss product from the trunk of his car. By 1982, Herbalife had reached $2,000,000 in sales and opened a distributorship in Canada, its first outside of the United States. In 1986 Herbalife became a publicly traded company via NASDAQ. Independent distributors' personal vehicles could be seen on the street, decorated by decals bearing the mysterious slogan "Lose weight now, ask me how!". In 1994 Mark Hughes started the Herbalife Family Foundation, a charity dedicated to helping children. The organization receives donations from Herbalife itself as well as individuals within and outside the company. The Herbalife Family Foundation has donated more than $6.5 million to children's causes worldwide. In 1996 Herbalife reached $1,000,000,000 in annual sales.
In 2000, Hughes died at the age of 44 from an overdose of alcohol and doxepin after a four-day drinking binge. The company has continued to grow after his death.
In 2003, Michael O. Johnson joined Herbalife as CEO following a 17-year career with The Walt Disney Company, most recently as president of Walt Disney International. On December 16 2004 the company had an initial public offering on the NYSE of 14,500,000 common shares at $14/share. 2004 net sales were reported as $1.3 billion. In April 2005, the company celebrated its 25th anniversary with a four-day event attended by 35,000 Herbalife Independent Distributors from around the world. In August 2005, Dr. Steve Henig joined the company as Chief Scientific Officer, responsible for product research and development.
The company is headquartered in Los Angeles, California and employs 3500 worldwide. Products are distributed in 65 countries through a network that Herbalife claims contains 1.5 million independent distributors.
Herbalife's product offering includes weight-management products such as Formula 1 Nutritional Shake Mix, a meal-replacement shake and one of the first products introduced by the company. Other nutritional products offered by Herbalife range from dietary supplements made from vitamins, minerals and herbs to personal care products emphasizing nutritional and herbal ingredients, such as aloe vera and vitamin C.
As of 2005, it is not immediately clear what method Herbalife's weight loss products employ[citation needed], although the nutritional ingredients are listed on the product. Recent advertisements indicate that the current philosophy is one of meal replacement via diet shakes, and nutritional supplements.
Proponents claim that the Herbalife strategy is aligned with health industry recommendations for safe weight control, eating a balanced diet, low-energy food with regular exercises, and that their nutritional and weight management line of products facilitate this through macronutrient and micronutrient food formulas.
Herbalife provides testimonials from health professionals as part of their marketing campaign. Some of the products are vegetarian, some are even kosher or halal, being certified by independent assessors. The products neither conform the fairtrade guidelines, nor does the company guarantee that the products were manufactured without animal testing.
Some of the original Herbalife weight loss products contained the active ingredient Ma Huang or Sida cordifolia, two herbs containing ephedrine alkaloids. Adverse reactions involving the company's Thermojetics original green tablets were recorded by the U.S. Food and Drug Administration and Herbalife subsequently stopped using ephedrine in its products in the face of rising insurance premiums.[3][4] The U.S. FDA banned supplements containing ephedra in 2004.[5]
In its annual report (SEC Form 10-K) Herbalife declares that all of its products are manufactured by outside companies, except for a small amount of products manufactured in its own manufacturing facility in China. The major suppliers include NBTY (Nature's Bounty), Fine Foods (Italy), PharmaChem Labs and JB Labs which together account for more than 40% of its product purchases in 2006. [6] In addition Herbalife declared in its annual report 2005 that the Company's research and development is primarily performed by outside consultants and that 2005 Herbalife did not incurred any material R&D costs.
__________
Herbalife is the prime example of MLM.
Great product.
Great service.
But the fact of the matter is, how are you going to promote your Herbalife International business?
Are you going to buy Herbalife leads?
Tell all your friends about your Herbalife business?
Hand out "Lose Weight Now, Ask Me How" buttons at malls?
There is a better way.
ItsGoodBusiness.net
In February 1980, Mark Hughes began selling the original Herbalife weight loss product from the trunk of his car. By 1982, Herbalife had reached $2,000,000 in sales and opened a distributorship in Canada, its first outside of the United States. In 1986 Herbalife became a publicly traded company via NASDAQ. Independent distributors' personal vehicles could be seen on the street, decorated by decals bearing the mysterious slogan "Lose weight now, ask me how!". In 1994 Mark Hughes started the Herbalife Family Foundation, a charity dedicated to helping children. The organization receives donations from Herbalife itself as well as individuals within and outside the company. The Herbalife Family Foundation has donated more than $6.5 million to children's causes worldwide. In 1996 Herbalife reached $1,000,000,000 in annual sales.
In 2000, Hughes died at the age of 44 from an overdose of alcohol and doxepin after a four-day drinking binge. The company has continued to grow after his death.
In 2003, Michael O. Johnson joined Herbalife as CEO following a 17-year career with The Walt Disney Company, most recently as president of Walt Disney International. On December 16 2004 the company had an initial public offering on the NYSE of 14,500,000 common shares at $14/share. 2004 net sales were reported as $1.3 billion. In April 2005, the company celebrated its 25th anniversary with a four-day event attended by 35,000 Herbalife Independent Distributors from around the world. In August 2005, Dr. Steve Henig joined the company as Chief Scientific Officer, responsible for product research and development.
The company is headquartered in Los Angeles, California and employs 3500 worldwide. Products are distributed in 65 countries through a network that Herbalife claims contains 1.5 million independent distributors.
Herbalife's product offering includes weight-management products such as Formula 1 Nutritional Shake Mix, a meal-replacement shake and one of the first products introduced by the company. Other nutritional products offered by Herbalife range from dietary supplements made from vitamins, minerals and herbs to personal care products emphasizing nutritional and herbal ingredients, such as aloe vera and vitamin C.
As of 2005, it is not immediately clear what method Herbalife's weight loss products employ[citation needed], although the nutritional ingredients are listed on the product. Recent advertisements indicate that the current philosophy is one of meal replacement via diet shakes, and nutritional supplements.
Proponents claim that the Herbalife strategy is aligned with health industry recommendations for safe weight control, eating a balanced diet, low-energy food with regular exercises, and that their nutritional and weight management line of products facilitate this through macronutrient and micronutrient food formulas.
Herbalife provides testimonials from health professionals as part of their marketing campaign. Some of the products are vegetarian, some are even kosher or halal, being certified by independent assessors. The products neither conform the fairtrade guidelines, nor does the company guarantee that the products were manufactured without animal testing.
Some of the original Herbalife weight loss products contained the active ingredient Ma Huang or Sida cordifolia, two herbs containing ephedrine alkaloids. Adverse reactions involving the company's Thermojetics original green tablets were recorded by the U.S. Food and Drug Administration and Herbalife subsequently stopped using ephedrine in its products in the face of rising insurance premiums.[3][4] The U.S. FDA banned supplements containing ephedra in 2004.[5]
In its annual report (SEC Form 10-K) Herbalife declares that all of its products are manufactured by outside companies, except for a small amount of products manufactured in its own manufacturing facility in China. The major suppliers include NBTY (Nature's Bounty), Fine Foods (Italy), PharmaChem Labs and JB Labs which together account for more than 40% of its product purchases in 2006. [6] In addition Herbalife declared in its annual report 2005 that the Company's research and development is primarily performed by outside consultants and that 2005 Herbalife did not incurred any material R&D costs.
__________
Herbalife is the prime example of MLM.
Great product.
Great service.
But the fact of the matter is, how are you going to promote your Herbalife International business?
Are you going to buy Herbalife leads?
Tell all your friends about your Herbalife business?
Hand out "Lose Weight Now, Ask Me How" buttons at malls?
There is a better way.
ItsGoodBusiness.net
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