Herbalife Ltd., a Los Angeles, California-based health and wellness company, has created its first-ever “China Growth and Impact Investment Fund” to stimulate the development of its business and accelerate growth in China as well as help address challenging public-policy issues such as the rise in obesity.
Funds for this new initiative were granted to Herbalife Nutrition by governments in China as part of an economic development package for its proven contribution and commitment to the continuing growth and success of the Chinese economy.
“China is instrumental in our global growth plans and to fulfill our purpose to make the world healthier and happier,” said CEO Rich Goudis. “We are making this significant investment in China to leverage our deep operational expertise in nutrition to accelerate growth as well as helping address some of the most pressing and challenging societal issues such as the rise in obesity.”
This China Growth and Impact Investment Fund will focus on five key areas:
- New Acquisitions in Health and Wellness Products and Companies. To complement Herbalife Nutrition’s already extensive lineup of quality products and wellness services, the company will look to increase its footprint in China through strategic acquisitions of innovative and impactful health and wellness companies and products and services.
- Expansion of Nutrition Clubs. Nutrition Clubs are run by Herbalife Nutrition service providers and provide local, supportive venues for communities of like-minded people to gather and receive nutrition and fitness coaching and counseling as they work to achieve their personal health and fitness goals. Thus, Herbalife is planning to invest in Nutrition Clubs and expand the number of Clubs serving communities across China.
- Increasing and Improving Technology. To take full advantage of technological enhancements, Herbalife plans to make an additional investment in technology, equipping the service representatives and service providers with the latest tools so they may better serve their customers, track their services and manage their businesses.
- Providing Additional Research, Learning and Training. Herbalife will also offer service providers and employees a more enhanced and extensive training program focused on nutrition and wellness. Additionally, as Herbalife Nutrition looks to the future, the company will seek opportunities to partner with and provide endowments to universities in China for four chairs, each to play a distinct role. The first endowment will be in the field of direct sales.
- Public-Private Partnerships Focused on Eradicating Obesity. Obesity has become one of the world’s most dire issues. This epidemic, unfortunately, has not bypassed China and the government is addressing these issues head on in part with the approval of the Healthy China 2030 plan by China’s Central Committee. The Company plans to fund a series of public-private partnerships at the local and regional levels that will focus on best practices to end obesity.