ADA — Sales at direct-selling giant Amway Corp. slid for the third consecutive year as key international markets softened in 2016.
The Ada-based privately-held company said it generated $8.8 billion in annual sales in 2016, a 7.4-percent decrease from 2016, according to a statement. Amway said it’s annual sales were $9.5 billion for 2015.
Softening sales in China, a market that was once a key driver for the company, contributed to the decline, despite increased sales in nine other markets, Chairman Steve Van Andel said in the statement.
“We experienced sales growth in several top markets, saw double-digit percentage growth in nine additional markets, and continued to evolve the business in China as we seek to take advantage of shifting market conditions and achieve the market’s long-term growth potential,” Van Andel said.
Despite the decline in sales, China continued to lead as the top nation for sales for Amway, followed by the U.S., South Korea, Japan, Thailand, Taiwan, India, Malaysia, Russia and Hong Kong.