$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
