Monday, June 23, 2008

Herbalife International

Herbalife International
 
Company history
 
In February 1980, Mark Hughes began selling the original Herbalife weight loss product from the trunk of his car. By 1982, Herbalife had reached $2,000,000 in sales and opened a distributorship in Canada, its first outside of the United States. In 1985, the California Attorney General sued the company for allegedly making false claims about the efficacy of its products. The company settled the suit the following year for $850,000 without admitting wrongdoing.[1] In 1986 Herbalife became a publicly traded company via NASDAQ. Independent distributors' personal vehicles could be seen on the street, decorated by decals bearing the mysterious slogan "Lose weight now, ask me how!". In 1994 Mark Hughes started the Herbalife Family Foundation, a charity dedicated to helping children. The organization receives donations from Herbalife itself as well as individuals within and outside the company. The Herbalife Family Foundation has donated more than $6.5 million to children's causes worldwide. In 1996 Herbalife reached $1,000,000,000 in annual sales.
 
In 2000, Hughes died at the age of 44 from an overdose of alcohol and doxepin after a four-day drinking binge. The company has continued to grow after his death.
 
In 2002, Whitney and Co. LLC and Golden Gate Capital acquired Herbalife for $685 million.
 
In April 2003, Michael O. Johnson joined Herbalife as CEO following a 17-year career with The Walt Disney Company, most recently as president of Walt Disney International.[1] On December 16 2004 the company had an initial public offering on the NYSE of 14,500,000 common shares at $14/share. 2004 net sales were reported as $1.3 billion. In April 2005, the company celebrated its 25th anniversary with a four-day event attended by 35,000 Herbalife Independent Distributors from around the world. In August 2005, Dr. Steve Henig joined the company as Chief Scientific Officer, responsible for product research and development. In 2008, President and COO Greg Probert resigned after it was reported that he had not completed the degree requirements for the MBA he claimed on his resume.[5]
 
The company is headquartered in Los Angeles, California and employs 3500 worldwide. Products are distributed in 65 countries through a network that Herbalife claims contains 1.5 million independent distributors.
 
Herbalife spends less than $2 million per year on research and development.
 
Herbalife International has a proven track record for Herbalife Distributors.  The popular "Lose Weight Now, Ask Me How" button can be seen on many people around the world.
 
The questions are these:
 
How are you going to promote your Herbalife Business?
 
Will you buy Herbalife Leads?  They are called wheel slots, and they run $350/100 leads.
 
Will you tell your friends and family about Herbalife?
 
Will you make cold calls to your leads prospects?
 
Never Buy Leads Again
 
Just Buy Customers
 
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