$55 million
investment increases manufacturing capacity and agility for beauty
and wellness company's business in Asia
PROVO,
Utah, Nov. 29, 2023 /PRNewswire/ -- Nu Skin
Enterprises, Inc. (NYSE: NUS) today announced the opening of
its new manufacturing facility in Shanghai, China. Nu Skin has invested
approximately $55 million in the new
facility over the past few years, which will increase production
capacity and supply chain responsiveness for the company in
China and its other Asian
markets.
"We have a 20-year history in Mainland China, and we continue to
invest in our future in the region," said Ryan Napierski, Nu Skin president and CEO. "This
new facility, along with our China
headquarters completed in 2014, represent our two largest overseas
investments and a significant commitment to China as a key R&D and manufacturing
center for the company."
Steve Hatchett, Nu Skin executive
vice president and chief product officer, added, "This
state-of-the-art manufacturing facility quadruples the production
capacity for Nu Skin in China. We
developed it with Industry 4.0 standards in mind to use smart and
autonomous systems fueled by real-time data analysis and machine
learning. A fully automated warehousing system will also seamlessly
link production with logistics to drive greater efficiency."
The modern facility in the Fengxian District of Shanghai is 440,000 square feet and was also
designed and constructed in accordance with green building
standards, maintaining a high production capacity while conserving
energy and reducing water consumption. More than 200 guests
attended the grand opening, representing local government, industry
associations and consumer associations.
Nu Skin Enterprises also has manufacturing facilities in
the United States as part of its
Rhyz Inc. subsidiary, a synergistic ecosystem of consumer,
technology and manufacturing companies. These manufacturers not
only drive the core Nu Skin business, but also provide services for
120 other customers.
About Nu Skin Enterprises, Inc.
The Nu Skin
Enterprises Inc. (NYSE: NUS) family of companies includes Nu Skin
and Rhyz Inc. Nu Skin is an integrated beauty and wellness company,
powered by a dynamic affiliate opportunity platform, which operates
in nearly 50 markets worldwide. Backed by nearly 40 years of
scientific research, the company's products help people look, feel
and live their best with brands including Nu Skin® personal care,
Pharmanex® nutrition and ageLOC® anti-aging, which includes an
award-winning line of beauty device systems. Rhyz is the strategic
investment arm of Nu Skin Enterprises. Formed in 2018, Rhyz is a
synergistic ecosystem of consumer, technology and manufacturing
companies focused on innovation within the beauty, wellness and
lifestyle categories.
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SOURCE Nu Skin Enterprises