ADA, Mich. (Feb. 4, 2015) – Amway today announced sales of $10.8 billion for the year ending Dec. 31, 2014. The result represents a decline of eight percent from 2013, due to lower revenues in China and fluctuation in foreign currency exchange rates.
While 2014 revenues are lower than 2013, the company continues to exhibit strong long-term growth. Amway has grown by 68 percent in the last decade and achieved sales growth in 13 of the last 15 years. In China, results have been strong as well – with growth rates over the past five and 10 years of 27 percent and 45 percent respectively.
“Sales in 2014 reflect the significant efforts of Amway Business Owners and employees who continue to do well around the world, despite challenging operating environments found in several nations that are major markets for Amway,” said Amway Chairman Steve Van Andel. “We continue to see great strength globally as select markets hit record sales numbers and others show resilience that point to strong results in 2015.”
Globally, Amway’s independent salesforce has created a strong customer base. Based on recent surveys*, Amway™ products can be found in 71 million households spread across 10 of its top markets – and those households are not part of the Amway salesforce.
Some of the company’s most mature markets, including South Korea and Taiwan, experienced notable growth in 2014. Markets such as Brazil, Mexico, Argentina, Costa Rica, Guatemala, Chile, Panama, Italy and Spain saw double-digit percentage growth in local currency sales, while markets influenced by political unrest and economic slowdowns – Russia, Thailand and Ukraine – showed resilience and produced solid results.
The top 10 markets for Amway in 2014 were China, South Korea, Japan, United States, Thailand, Russia, Taiwan, India, Malaysia and Ukraine.
Amway sales in 2014 were largely concentrated in the product categories of nutrition, beauty, durables and home care. Nutrition products continued to lead the way, accounting for 43 percent of direct selling revenue. Beauty products contributed 25 percent, followed by durable products at 19 percent and home care products at 8 percent. Other offerings accounted for 5 percent. New product launches such as Truvivity by Nutrilite™ supplements and the Artistry Hydra-V™ collection had a notable impact.
“Looking ahead to 2015 and beyond, we are optimistic and feel we are well positioned for growth. We will be opening five new manufacturing facilities, many new Amway Experience Centers to support our ABOs, and improving virtual experiences online. Additionally, attitudes toward, and interest in, entrepreneurship remains at all-time highs,” said Amway President Doug DeVos.
*Based on population data available about the specific markets and surveys conducted in China, India, Japan, Korea, Malaysia, Russia, Taiwan, Thailand, the United States and Vietnam between May 2013 – June 2014 by an independent research firm.
Amway is a $10.8 billion direct selling business based in Ada, Michigan, USA. Top-selling brands for Amway are Nutrilite™ vitamin, mineral and dietary supplements, Artistry™ skincare and color cosmetics and eSpring™ water treatment systems – all sold exclusively by Amway Business Owners. Global sales in 2013 made Amway the #1 direct selling business in the world, according to the Direct Selling News 2014 Global 100. The company’s annual sales figure includes revenue from direct selling operations and other business holdings. For company news, visit globalnews.amway.com.