Nu Skin makes further investment as Operation China ramps up
The new Greater China regional headquarters and Innovation Park will be completed by the end of the year, says the US-based firm, having also announced the opening of its new Innovation Center and expanded U.S. headquarters.
"These new facilities reflect our investment in our future and our commitment to advancing Nu Skin's long-term growth potential," said Ritch Wood, chief financial officer.
"We continue to foster a culture of innovation, providing a steady stream of state-of-the-art anti-aging solutions and a continually attractive business opportunity for our sales leaders. These new facilities also reflect the hard work and dedication of the entire Nu Skin family and our vision to become the leading direct selling company in the world."
Shanghai Innovation Park
The Innovation Park in Shanghai will serve as the regional headquarters for the Greater China region, including a world-class anti-aging research and development laboratories, as well as manufacturing facilities, modern meeting spaces and green areas.
It is located in the heart of Shanghai's Fengxian District on a 9.4 acre parcel of land and encompasses more than 365,000 square feet.
The Innovation Park features three buildings: a headquarters which will house employees, a product development production and distribution center, and a vision hall which will include a 230 seat auditorium.
Nu Skin has long been looking to further grow its already extensive footprint in the China market by making a $200m investment in its manufacturing and logistical operations there, which was announced last month.
The firm is deploying a lot of capital in China because it believes in the future of the market, and that the upgrades, which are part of a $200m investment, are the way to make a targeted investment.
Nu Skin has been extremely successful at tapping into the fast growth for cosmetic and personal care products amongst the country’s growing middle class group of consumers.
The expanded U.S. headquarters campus includes more than 300,000 total square feet that features five research laboratories, a state-of-the-art data center, environmentally friendly design, and modern office and meeting spaces.
The new research facilities will be instrumental in the development and evaluation of Nu Skin products.