MLM Company Herbalife Appoints GM For Korea

MLM company Herbalife has appointed Young Hee Chung as the new general manager of Korea, the company said Tuesday.

Chung is the first female to serve in this capacity in Korea and has worked with Herbalife since it first began doing business in Korea in 1996. She has been senior manager of distributor relations and sales, and senior manager for sales and marketing since 2000. She holds a B.A. degree from the University of Minnesota and completed classes in a master's program at the City University of New York's Baruch Graduate School of Business.

Korea MLM Scandal Widens In Scope

Prosecutors are widening their investigation into the influence-peddling allegations surrounding JU Group, the country’s biggest MLM and network marketing company now accused of bribing public officials and business executives by hiring them as sales agents.

Law enforcement officials are currently searching for JU Group’s computer systems manager, identified only as Hong, who is suspected of manipulating sales records to give larger payouts to the company’s high-profile members.

Investigators are also taking a harder look at 60 public officials who were named on JU Group’s VIP list and regularly received gifts from the company.

MLM News - More About Golden Gate Purchase Of Neways

Latest edition of MLM newsletter "MarketWave Alert" (#68) from MLM authority Len Clements takes a further look at recent events surrounding MLM company Neways and the acquisition of the company by Golden Gate capital.

Len Clements' newsletter is one of the best sources of commentary on the MLM and Network Marketing industry and highly recommended. Details of "MarketWave Alert" are here.

MLM Company Herbalife Settles Patent Dispute

A subsidiary of biotech company United Therapeutics has settled a three-year patent dispute with MLM company Herbalife, a maker of nutritional supplements.

Financial terms of the settlement between the subsidiary, Unither Pharma, and Los Angeles-based Herbalife were not disclosed.

MLM Company Herbalife To Move Head Office

MLM company Herbalife Ltd. said Wednesday that it would move its U.S. headquarters to downtown Los Angeles from Century City in 2008, giving a boost to downtown and the L.A. Live project.

The maker of nutritional supplements and weight management products will be one of the anchor tenants in an office building at L.A. Live, the $2.5-billion sports, entertainment and residential complex being constructed next to Staples Center.

MLM Companies Attract Short Selling Interest

Proposed new FTC regulations for MLM companies has attracted increased short-selling interest in the stocks of a number of publicly traded MLM companies such as USANA, Herbalife, Mannatech and others.

MLM Company Neways Sold To Private Equity Group

MLM company Neways Inc., which has been the subject of buyout speculation for several months, was sold to a San Francisco private equity firm in a deal concluded late Wednesday.

Terms of the deal weren't disclosed.

Buyer Golden Gate Capital, which specializes in leveraged buyouts and manages about $3 billion in capital, is no stranger to the nutraceuticals industry. The company, along with another private equity firm Whitney & Co. LLC, acquired Herbalife International, a Los Angeles-based weight loss and dietary supplements maker, for about $685 million two years after the death of its multimillionaire founder, Mark Reynolds Hughes, in 2000.

MLM Company Herbalife Reports Higher Q3 Sales

Monday after the closing bell, MLM company Herbalife Ltd., a seller and marketer of nutritional supplement and personal care products, announced third quarter adjusted earnings that rose year-over-year on higher sales. The company provided guidance for the fourth quarter and fiscal 2007 and revised up guidance for fiscal 2006.

New MLM Company "The Balance Company" Launches Products

New MLM company The Balance Company™ announced today that it has launched its first line of innovative products to support a balanced and healthy lifestyle, tackling head-on the issues faced by millions of overworked and stressed-out Americans who crave better health and more balance in their lives. The Balance Company's initial offering is a toolset of products, tips, and ideas that take the guesswork out of figuring out how to achieve better health and balance for both body and mind. Taking a cue from highly successful public companies such as Avon, Herbalife and NuSkin, The Balance Company will sell its new line exclusively through a "customer-direct" model and a national network of independent sales consultants.

MLM Company Reliv Reports Increased Third Quarter Sales

MLM company Reliv International, Inc., a developer, manufacturer and marketer of proprietary nutritional supplements, today reported a 4.3 percent increase in net sales and an 8.1 percent increase in net income for the third quarter of 2006 compared to the same period last year.

MLM Company Herbalife To Open For Business In Peru

MLM company Herbalife Ltd., a global nutrition direct-selling company, today announced that it will begin conducting business in Peru during December 2006, expanding the company’s reach to 63 countries where Herbalife products are sold through a network of independent distributors. Jaime Elkin Ackerman has been appointed as managing director, and will oversee the day-to-day operations of the country. The company’s head office will be located in the capital city of Lima.

Herbalife was established in California in 1980. The company began doing business in South America in 1994 in Venezuela and Argentina. Peru will be the seventh market on this continent.