Skincare and nutrition company Nu Skin, one of many brands expanding operations in China, will target the Chinese market and the wider Asia Pacific region with the imminent rollout of its new facial spa device. The company recently announced that the skincare device has received FDA approval for over-the-counter cosmetics use.
The demand for beauty devices has grown steadily for several years, with last year’s sales in the category increasing by approximately 22 percent. Nu Skin will make its offerings available in the North American and Asian markets in early 2014.
Skincare accounts for 70 percent of Nu Skin’s sales in Vietnam, where the company is looking to expand following strong growth during its first year in the market. The ageLoc anti-aging line accounts for 65 percent of sales in the skincare category.
In Vietnam, which comprises the 13th-largest population in the world, direct sales grew by 12 percent last year. Despite the country’s strict regulatory climate, Nu Skin expects to recruit approximately 30,000 members and generate sales of nearly $15 million in 2013.