Nu Skin Enterprises, Inc.

Is Nu Skin Enterprises publicly traded?

Yes. Nu Skin Enterprises trades on the New York Stock Exchange under ticker NUS. It went public in 1996.

What does Nu Skin Enterprises own?

The company owns the Nu Skin beauty brand, Pharmanex supplements, the ageLOC anti-aging platform, and the Rhyz portfolio of consumer, technology, and manufacturing investments.

How does Nu Skin make money?

Revenue comes from selling beauty and wellness products through a global network of independent affiliates who earn retail margin and sales commissions. Rhyz companies add manufacturing and consumer revenue.

Is Nu Skin an MLM?

Yes. Nu Skin operates a multi-level marketing model where affiliates earn commissions on their own sales and on sales of affiliates they recruit. The company publishes income disclosures under regulatory requirements.

How much revenue does Nu Skin make?

Nu Skin Enterprises reported $1.485 billion in 2025 revenue, down 14.3 percent from 2024, with EPS of $3.18.

Who founded Nu Skin?

Blake Roney, Sandie Tillotson, Steve Lund, and Nedra Roney founded the company in Provo, Utah, in 1984.

Blake Roney, Sandie Tillotson, Steve Lund, and Nedra Roney founded Nu Skin in Provo, Utah, in 1984, launching a personal care line sold person to person with a formulation pitch of "all of the good, none of the bad." The company scaled through the late 1980s into a major direct seller.

The 1996 NYSE listing made it one of the first major public MLM companies. International expansion, especially into Asian markets where direct selling fit culturally, made Asia the revenue center it remains. The 1998 Pharmanex acquisition added nutritional supplements and created the beauty-plus-wellness structure.

The 2009 ageLOC launch gave the company a technology-framed product platform spanning devices and consumables, a differentiation that produced the Lumispa, Galvanic Spa, and WellSpa device lines.

Regulatory history is substantial. An FTC settlement in the 1990s required compensation disclosure changes. China fined the company $540,000 in 2014 for illegal direct selling, and a 2016 SEC settlement charged Nu Skin with a $154,000 Foreign Corrupt Practices Act violation tied to a Chinese charity donation, settled for $765,688.

Under CEO Ryan Napierski since 2021, the Nu Vision 2025 strategy emphasized digitizing the affiliate model and building the Rhyz ecosystem. The January 2025 sale of Mavely, acquired in 2021, trimmed the portfolio. Revenue has declined from a $2.6 billion peak to $1.485 billion in 2025, a 14.3 percent annual drop reflecting direct selling's structural challenges.

The company's Force for Good initiative covers sustainable sourcing, packaging reduction, and the Epoch line's botanical partnerships with indigenous communities. Science-aligned emissions goals have been disclosed.

No B Corp certification applies. The company's manufacturing footprint in the US and China provides vertical control over product standards.

The material ethics issue is structural to MLM: affiliate income disclosure, where the vast majority of distributors earn minimal commissions, is the industry's standing regulatory and reputational exposure, addressed through compensation disclosures required by prior settlements.

China regulatory actions: A $540,000 fine in 2014 for illegal direct selling and a 2016 SEC Foreign Corrupt Practices Act settlement for $765,688 over a charity donation linked to regulatory influence represent the company's most significant compliance history.

FTC settlement: A 1990s action required compensation disclosure changes after unsubstantiated income claims allegations, establishing the disclosure regime the company still operates under.

MLM criticism: Short-seller reports and media scrutiny of the direct selling model's legality and affiliate economics apply structurally, including a 2012 Citron Research report questioning the model.