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NU SKIN vice president elaborates on strategy, development in China

(People's Daily Online)    13:58, December 19, 2017

Recently, Matthew Dorny, Vice President and General Counsel of NU SKIN, one of the leading global companies in personal care products and nutritional supplements, gave an interview to People's Daily Online, in which he shared his views on the company's strategy and development in the Chinese market.

Reporter: Hi everyone, this is the interview from People.cn. We are glad to have Mr. Matthew Dorny, Vice President and General Counsel of NU SKIN, one of the leading global companies in personal care products and nutritional supplements.

Good evening Mr. Dorny. May I ask how many times have you been in Beijing? What’s your purpose this time?

Mr. Dorny: I have been to China many times and this is only the third time that I have been to Beijing. I came for the World Political Parties High-level Meeting and China-US High Level Political Party Leaders Dialogue held on December 1 and December 5, respectively. As an officially listed enterprise on New York Stock Exchange, NU SKIN is doing its best to facilitate economic, trade, and technological cooperation between the US and China. China is also one of the most important markets for us. We cherish the opportunity to build communication between our two countries’ people, companies, and officials. We especially hope to contribute more and more to business collaborations between China and the US, and improving quality of life in both countries.

Reporter: You just mentioned about World Political Parties High-level Meeting and China-US High Level Political Party Leaders Dialogue. Do you any thoughts to share with us?

Mr. Dorny: it was really an amazing experience to attend the dialogues, both of them. It was really an educational experience for me and also very motivational. I also attended the Party Leaders dialogue in Washington, D.C., in 2016. This year’s events have a slightly different feel from the Party Leaders’ Dialogue I attended last year, because they come on the heels of several major events that have demonstrated China’s growing statues on the world stage: the 19th CPC National Congress, President Trump’s visit to Beijing, and the APEC Summit.

The World Political Parties High-level Meeting and the China-US High Level Political Party Leaders Dialogue provide valuable platforms for political parties from different countries to enhance mutual understanding and to exchange experiences. Political leaders, entrepreneurs, media organizations, and think tanks discussed how to build a community with a shared future. This was my first time attending the World Political Parties High-level Meeting. Over 600 representatives from around 300 parties globally participated in the meeting. During the China-US High Level Political Party Leaders Dialogue, representatives of both the Democratic and Republican Parties recognized China’s great economic achievements over the past 30 years since reforms began, and expressed a desire for further collaboration. These representatives engaged with officials from China’s Communist Party to understand their perspectives on economic development and opportunities for collaboration. NU SKIN is proud of being part of Chinese economic development story, and is optimistic about the future potential of the Chinese market. NU SKIN seeks to promote healthier lives for consumers and to boost the Chinese and American economies. These meetings were helpful to us in understanding broader trends and how our company can contribute.

Reporter: As a famous multinational corporation, NU SKIN does well in China in recent years. How do you view about the development and what is the company’s strategy in China market?

Mr. Dorny: NU SKIN was established in Provo, Utah in 1984. We have successfully spread our business to nearly 50 markets during the past 30 years. NU SKIN is one of the leading global enterprises in personal care products and nutritional supplements. NU SKIN has remained committed to establishing a permanent footing in the China market. From establishing a factory and R&D center in 1998 to opening our first offline store here in 2002 to launching in the Chinese market in 2003 to establishing an Innovation Park with a nearly CNY 500 million investment in Shanghai in 2014, our goal of deeply cultivating the Chinese market and achieving sustainable development in China has never changed.

We are optimistic about China’s economic development, and will continue to increase investment in China. Our ability to increase investments in China will be further enhanced by improvements to the investment environment (a more open, transparent market with greater standardization and legal protections). Our goal is to continue to invest in China and focus on the training of sales staff to further improve service quality and meet the personalized needs of consumers.

China is a long-term component of NU SKIN’s strategy, and we seek to grow together with the Chinese economy. With the world largest population, second largest economy, and largest trade flows in the world, China is playing an increasingly important role in regional economic organization and globalization. We understand that China is undergoing reforms necessary to address rising Chinese consumer demand, and we believe we can play a role in this shifting economic environment. At NU SKIN, we view innovation as critical for economic growth and development, and are implementing an innovation-driven growth strategy. Through innovation, we improve product quality and service capabilities to better meet the demands of Chinese consumers.


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