Vijay Eswaran – CEO QNet Featured in Forbes

by Ted Nuyten on November 20, 2012

Vijay Eswaran - Qnet

 

QNet ltd, or QuestNet or GoldQuest or Qi limited, is a Hong Kong based direct selling company owned by the QI Group. In 2011 sales at QI group reached $430 million. The company sells a variety of products including energy products, nutrition, watches, jewelry and vacation packages.

The company's marketing strategy follows a multi-level marketing model, depending on independent representatives to refer its products to consumers and receive compensation based on the sales volume of their referrals and the sales volume of other independent representatives in their teams who are arranged in a binary fashion.

QNet is a member in the Direct Selling Association of Malaysia and Singapore. It has offices in some Asian countries such as Indonesia, Philippines and Taiwan and it also operates or has operated in other countries such as India, Saudi Arabia, Egypt and Côte d'Ivoire.

Forbes has featured Vijay Eswaran the executive chairman in the Asian edition:

In the Rough-and-Tumble Business of Direct Sales, Malaysia’s Vijay Eswaran Learns from Mistakes and Builds a Movement

Thousands have come to Jakarta from all over Asia, waiting with patience and anxiety for this moment. At last the music swells. An excited murmur arises; he enters behind a phalanx of bodyguards, and the crowd parts. People strain to touch him or at least his high-collared tunic. Spotlights cast him in a golden glow. He raises a hand in benediction, utters a few unheard words and lets the rush carry him on. Vijay Eswaran has arrived.

It’s a triumphant return to Indonesia for the Malaysian founder and chairman of the Qi Group, a young giant of multilevel marketing with sales that could approach $1 billion in the next couple of years. His annual three-day convention, training session, pep rally and lovefest, the VCon, has attracted more than 8,000 of his company’s so-called IRs. These are some of the 4.5 million independent representatives who buy and sell his products, creating networks that they call a chain of prosperity, giving them a business of their own and a vision of a better life.

Wrapped up in the adulation, it’s tempting for Eswaran to forget the last time his event was held here, in 2007. An obscure lawsuit in the Philippines had mutated into an Interpol arrest warrant, clapping him and three senior executives in jail for three weeks. Indonesian courts scoffed and set him free; a Manila court dismissed the charge soon afterward. But Eswaran remembers it as one of the consequences of building a business in which some people expect a get-rich-quick scheme and feel cheated when they don’t get one.

Or as one reveler put it, “Just because there’s no limit on what you can make doesn’t mean you don’t have to work. Some people don’t, some do.” A young man from Malaysia, Omar, was without prospects in 2009 when he joined Qnet, the company’s keystone division, to sell personal-care products to a few friends, who told other friends. It was tough going at first, but now he can afford to move out on his own and wants to get married next year. “It has changed my life, and it has changed me,” he says. “For all of this I thank Vijay Eswaran.”

People such as Omar have helped Eswaran emerge as one of the most charismatic of Asia’s self-made businesspeople over the past 20 years. Selling the simple things of day-to-day life such as cosmetics and discount phone cards, while also building a thriving gold coin business, has made the 52-year-old one of the richest people in Malaysia. Forbes Asia estimates his net worth at $500 million, based on his stake in the unlisted company as well as holdings in real estate and fine art on display in his lavish homes in Kuala Lumpur, Bangkok, Sydney, Hong Kong–where the Qi Group has been headquartered since 1998–and London. (The company won’t divulge his stake, saying only that it’s a majority share, but insiders there indicate that it’s between 70% and 90%. Qi also won’t disclose its annual profits.)

The other part of the interview can be found here

Source: Forbes, Selling A Better Life

8 comments… read them below or add one

Koli Bandyopadhyay November 22, 2012 at 2:24 am
We are interested to know about it's present growth in India

Abilash December 13, 2012 at 8:52 pm
Bro, Qnet is one of the fastest growing company helping lot of them to achive their dreams. If you are really keen to know more detials let me know. Opportunity doesnot allways strikes at door steps but when it strikes grab it and never let go.

Vasudevan November 26, 2012 at 5:03 am
Other Rich people know to create a wealth, but only Dato Vijay Eswaran knows how to create wealth and distribute it.The real democratic.

Issa DIANDA December 15, 2012 at 9:09 pm
QNET et ses fondateurs m'on construit developper appri l'integrite

Nandini Agaskar December 20, 2012 at 4:09 pm
Qnet help people to raise in life and also to help mankind....

MANISH SINGLA December 21, 2012 at 7:35 am
QNET IS A PLATFORM WHICH GIVES PEOPLE LIFE OF CHOICE, WHERE PEOPLE CAN GROW RICH AND FULFILL ALL THEIR DREAMS NO MATTER MATERIAL, EMOTIONAL, SPRITUAL. I LOVE QNET.

Venkatesh Kalaivanan February 21, 2013 at 8:19 am
The important thing to note is the number of people who lost money in order for some few to make it big. One of the biggest Jokes of QNet is their own leaders who advocate "Fake it till you make it". I myself have attended a session for members by Sathi Senathiraja, who advocated, stating his own example "Fake it till you make it". The downside is, you end up faking to people who would trust you, in the hurry to make money. In the process you do not realize what you are doing. I attended a session by another leader, who advocated, "IF the person you bring in does not take the effort to make money, it is not your problem, your job is to tell him what to do". Now imagine, you know your potential, you bring in your relative into the business, without looking at his potential to do the business, cause the leaders advocate bringing in your near ones to share the pot of GOLD. Then he / she flounders, cause they are not like you. Not every person can do it as good as you can, just like everyone cannot be a movie star, every one cannot be a network marketer. So you end up almost forcing people to put in their money, just because you were able to "CONVINCE" them that you are making it big. Essentially you are fooling people. I left this business a year back, and am very happy building a pipeline in my "Regular" job. I worked "Smart" and grew fast, and I make more money than the group leader of the team I was part of, who has been doing this business for the last 10 years or so. The joke was, the other day, this leader, who is part of the bottom rung of the V-Leadership, and who claims to also be an acclaimed corporate trainer and a an ex-model actually sent me a text which read thus "Our industry runs on Trust and Cordial Relations! I care for Ur DREAMS & have vision that our next generation shud help each other too. Learn biz frm my 'expertize' to build ur powerful organization WORLDWIDE for 2 generations NOW! Start Today for better tomorrow!!! The reason why that is a joke, is cause i left the business on account of the irregular processes practices by these people. At that time, this leader who was in full knowledge of the entire issue, cared a damn about my vision, my dream, etc. I even escalated the matter to the V-Leadership. They called me to a meeting at their convenience and place. Even then this leader did not intervene. Eventually the wrong doers were never pulled up by the management. I ended up loosing a lot of money becoz I followed one of the tenets that the V and QNET propogate "Follow your upline". I just did what my uplines told me to follow, and that made me lose money. The above line from this leader is also a joke, cause he is just as the line goes a person who is faking inspite of not making it. Wakeup people, have a dream follow it, and achieve it in your normal way of life. NEtwork marketing is an option. But just like in the case of your job: 1) dont get married to it. 2) enjoy the benefits if you get any 3) evaluate if you are fit for it, before you get into it 4) Dont get into it blindly even if your family member or best friend invites you into it. 5) If you get into it, dont blindly pull people in without understanding their potential 6) if you are doing it, do it with passion and also with conscience. Do not make false promises. 7) Above all, do not idolize these leaders, they are just a bunch of businessmen. If you see in any network, only the top rung makes the crores. The rest regardless of their rank are just faking it, or are ruthless enough to go to any extent to hoard money 8) The objective of life is not to hoard money, and network marketing many a times makes breeds greed.

Amir KEFAFI June 24, 2013 at 3:09 pm
I'm already year in QNET. I just buy a product and started. I'm really happy that I did it. QNET gaved me a reall vision in life and I really love QNET. QNET don't give us just money, it's really about life style! With QNET any one and every one who has really dreams and goals can achive them! Guys, I'm a person who did not agree to work in mlm system more than 11 years, and during 11 years ( from 2001 till 2012) I was rejected 4 times to start in QNET. First time 2001 in Iran, 2005 in Azerbaijan, 2008 in Turkey and in 2010 in USA. I'm really sad that I lost 4 times my chanses to change my life, but any way last time in 2012 in Ukraine, I understood that the real way of achive all my personal and materialistical dreams and goals in my life is QNET! Guys belive me I'm talking from all my heart! If you really would like to have personal and finansial development, QNET with his fantastic education is real way! If you are ready to leave w?thout mental and finansial borders just start in QNET.