Published in Breaking News

Amway sales fall for second consecutive year in 2015 to $9.5 billion

BY MiBiz Staff Wednesday, February 03, 2016 08:40am

ADA — Sales for the privately-held Amway Corp. fell for the second year in a row in 2015.

The Ada-based direct-selling giant announced that sales reached $9.5 billion last year, a decline of $1.3 billion from 2014. Sales last year were down nearly 19.5 percent from the company’s peak of $11.8 billion in 2013.

Last year was the first time Amway’s sales have dipped below $10 billion since 2010.

The company attributed the decline to “soft sales in China and unfavorable currency exchange rates,” which offset constant currency growth in more than two-thirds of its top 20 markets, according to a statement.

Amway said the U.S. market was among those where it experienced higher sales last year, along with South Korea, Japan, Taiwan, Malaysia, Brazil and Mexico.

Vitamins, dietary supplements and weight management products accounted for 46 percent of Amway’s sales. In recent years, Amway has converted facilities in West Michigan to manufacture those kinds of nutritional products, as MiBiz has previously reported.

The company said beauty and personal care products were 25 percent of sales, while “durable products” — items like its water and air filtration systems — stood at 16 percent.

Read 2813 times Last modified on Monday, 08 February 2016 13:54