SINGAPORE, July 13, 2021 /PRNewswire/ -- Enterprise Asia, the organiser of the prestigious fifteenth Asia Pacific Enterprise Awards (APEA) 2021 Regional Edition is pleased to recognise 59 exceptional award recipients who have exemplified excellence and perseverance in this unprecedented period. The APEA awardees have proven resiliency and accelerated tremendously to overcome the unprecedented economic conditions wrought by the global pandemic.
Nu Skin Southeast Asia (NSE Asia Products Pte Ltd) honoured for Inspirational Brand Category at The Asia Pacific Enterprise Awards 2021 Regional Edition
The APEA, an initiative by Enterprise Asia, the region's leading NGO, is the largest regional recognition and acknowledgment programme for trailblazers in the business community. APEA prides itself as a testament to the commitment, aspiration, and true entrepreneurship. With over 800 nominations received each year, and about seven percent were commended to the most deserving for recognition. This year, an impressive number of 130 finalists from 15 countries were up for consideration in the final round of judging and only 59 were crowned as award recipients.
Nu Skin Southeast Asia's Inspiring Brand Story
Nu Skin is a direct selling company that develops and distributes a comprehensive line of innovative, premium-quality beauty and wellness consumer products through a global network of sales leaders in Asia, the Americas, Europe, Africa and the Pacific. It was founded in Provo, Utah in 1984 by three persons with a product philosophy of "all of the good, none of the bad" and a vision to provide high-calibre entrepreneurs with business opportunities. Nu Skin's first Southeast Asian market opened in Thailand in 1977 and now operates in nearly 50 markets across the globe, including the Philippines, Singapore, Malaysia, Brunei, Indonesia and Vietnam.
Nu Skin is positioned as an innovator spearheading next-generation of skin care and nutritional supplements in a holistic solution. The products are marketed and distributed through a direct selling model focusing on person-to-person interaction online or offline, that allows sales leaders to educate consumers in-depth on product quality and benefits.
Its "customer-obsessed" mantra creates exceptional product and shopping experiences focused on satisfaction and delight. Nu Skin is celebrated as the World's Number 1 Brand for Beauty Device Systems for 4 consecutive years*. The Pharmanex product brand is also the Number 1 Weight Management and Wellbeing Brand in Malaysia and Singapore for 4 and 3 consecutive years respectively**.
To the sales leaders, Nu Skin represents a life transforming opportunity to tap into a dynamic business platform with leading, innovative and competitive products, a rewarding compensation that is fast and flexible, and powerful digital tools that harnesses social sharing and social commerce to ignite their entrepreneurial dream. Regular events and incentive trips are held to engage, motivate and recognise the sales leaders for their efforts and achievements.
At the heart of Nu Skin is its mission to be a force for good throughout the world by empowering people to improve lives with rewarding business opportunities, innovative products and an enriching and uplifting culture. Nu Skin promises to inspire confidence today and optimism for tomorrow. The brand tagline has been rebranded to "Discover the Best You" to resonate with customers and sales leaders, and inspire them to live the best version of themselves. This encapsulates Nu Skin's mission to be a positive energy and improve lives.
The visual identity of Nu Skin has also evolved from a formal corporate to youthful vibrancy as the brand strives to connect with today's millennials. With the growing advocacy for a more inclusive world, Nu Skin has also started to embrace people of all diversity and ethnicity-to echo that Nu Skin is for all in its advertising and promotional campaigns.
In 2020, Nu Skin generated US$2.58 billion in revenue in which Southeast Asia region contributed US$302.7 million (4th largest region in the world) with more than 150,000 customers and close to 9000 sales leaders. Amid the COVID-19 pandemic in 2020, the brand is growing and expanding with a 13% increase in number of customers and 19% increase in sales leaders.
The ageLOC® product brand generated more than US$10 billion in cumulative sales in just 12 years since its inception in 2008. Apart from being the World's Number 1 Brand for Beauty Device System Brand*, ageLOC® LumiSpa® is also the Number 1 Best Selling Brand of Electric Facial Care Devices in Indonesia and Vietnam in 2018***.
The force for good culture is reflected in Nu Skin's corporate social responsibility on a global and regional scale. Since 2002, Nu Skin distributors and employees have donated more than 700 million meals to feed hungry and malnourished children across the world. On a regional level, Southeast Asia Children's Heart Fund has been funding corrective heart surgeries and providing medical assistance to children in the local communities since 1999. To date, more than 13,600 children's lives have benefitted.
By investing in technology, Nu Skin is creating a robust digital ecosystem that empowers its sales leaders to connect directly with customers in personalised, high-touch ways that strengthen and sustain long-term relationships. This includes a skin consultation assessment that recommends products to customers and a digital tool for sales leaders to create their own website shopfront.
Investments in research and development in global consumer research, product development and acquisition of product technologies sustains Nu Skin's position as an innovator with exclusive patents and proprietary science. With this relentless focus on customers and strong pipeline of innovative products, Nu Skin is well-positioned to capitalise on growth opportunities to sustain the success of the brand.
*Source Euromonitor International Limited; Retail Value RSP terms; all channels; 2017 to 2020. Beauty Systems are at-home Skin Care Beauty Devices that are exclusively paired or recommended to be used with a topical consumable of the same brand. Claim verification based on Euromonitor custom research and methodology conducted January-March of 2021. Sales of at-home skin care beauty devices includes sales of electric facial cleansers as defined in Passport database. This category does not include haircare/removal appliances, body shavers, and oral care appliances. |
**Source: Euromonitor International Limited, Weight Management and Wellbeing; % retail value share, 2020 data. CH2021ed. |
***Source: Euromonitor International Limited; category definition aligned with Electric Facial Cleanser definition in Consumer Appliances 2019ed; Retail Value Sales in local currency 2018, all retail channels. |
About Enterprise Asia
Enterprise Asia is a non-governmental organisation in pursuit of creating an Asia that is rich in entrepreneurship as an engine towards sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs and other organisations to promote competitiveness and entrepreneurial development, in uplifting the economic status of people across Asia and in ensuring a legacy of hope, innovation and courage for the future generation. For further information, visit www.enterpriseasia.org.
About Asia Pacific Enterprise Awards
Launched in 2007, the Asia Pacific Enterprise Awards is the region's most prestigious awards for outstanding entrepreneurship, continuous innovation and sustainable leadership. The Award provides a platform for companies and governments to recognise entrepreneurial excellence, hence spurring greater innovation, fair business practices and growth in entrepreneurship. As a regional award, it groups together leading entrepreneurs as a powerful voice for entrepreneurship and serves as a by-invitation only networking powerhouse. The program has grown to encompass 14 countries and markets all over Asia. For more information, visit: www.apea.asia
