Amway
February 27, 2023
ADA, Mich., February 27, 2023 -- Amway reported sales of 8.1 billion dollars for the year ended December 31, 2022, down from 8.9 billion dollars in 2021. The company attributed the decline to a stronger U.S. dollar, the sale of Metagenics, Inc., a non-direct-selling affiliate, and the cessation of operations in Russia.
On a constant-currency basis, sales for Amway's direct-selling business rose 1.0 percent, a third consecutive year of growth. Growth markets included mainland China, South Korea, Hong Kong, Malaysia, Taiwan and Vietnam. Nutrilite accounted for more than 50 percent of global sales, with the nutrition category up 8 percent.
Chief executive Milind Pant said Amway remains focused on entrepreneur-led health and wellness communities and that the company will complete a 35 million dollar nutrition manufacturing investment in Ada while continuing headquarters revitalization scheduled through 2025.