Amway 2022 Revenue Down $800 Million Or 9% To $8.1 Billion
Amway, an entrepreneur-led health and wellness company, today reported sales of $8.1 billion USD for the year ending December 31, 2022. This represents an overall decline from 2021 sales of $8.9 billion due to the strength of the US dollar, the sale of Metagenics, Inc. (a non-direct selling entity), and the ceasing of operations in Russia.
On a constant currency basis, sales for Amway’s direct selling business were up 1.0% representing a third consecutive year of growth. This growth was driven by entrepreneurs all over the world who are dedicated to providing health and wellness solutions to their customers. Several of Amway’s top markets experienced growth in 2022 including Mainland China, South Korea, Hong Kong, Malaysia, Taiwan and Vietnam.
“For more than 60 years, Amway has focused on helping entrepreneurs build rewarding businesses by providing customers with health and wellness solutions that help them live better, healthier lives,”
said Amway Chief Executive Officer Milind Pant.
“Health and wellness is infused in everything we do, which shows in our category sales.
In 2022, our Nutrilite™ brand accounted for more than 50 percent of global sales, representing growth of eight percent for the Nutrition category. In addition, our healthy beauty category, featuring Artistry™ skincare and makeup, includes botanicals grown on our organic farms.”
Strong sales in Mainland China, the company’s largest market, stemmed from Amway Business Owners (ABOs) who helped their customers by providing health and wellness solutions centered around common needs such as healthy weight and fitness through programs like morning nutrition and exercise clubs.
South Korea also achieved success by modernizing the business opportunity with 25Cent Ride, a virtual bike riding experience that connects people through a complete fitness program, focusing on the power of health and community.
In addition, Taiwan, Hong Kong, Malaysia, and Vietnam continued on their growth trajectories due to consumer demand for Amway’s products and strong relationships between ABOs and their customers through health and wellness communities.
“Amway remains committed to using the best of our business and the passion of our people to impact communities in every market where we do business,”
“In 2023, we will complete a $35 million investment in nutrition manufacturing in our hometown and continue the revitalization of Amway’s Ada World Headquarters that began in 2022 and is scheduled for completion in 2025.”
Amway is a micro entrepreneur-led health and wellness company based in Ada, Michigan. It is committed to helping people live better, healthier lives across more than 100 markets worldwide.
According to Forbes magazine, it is among the Top 100 privately held companies in the United States. Top-selling brands for Amway are Nutrilite™, Artistry™ and XS™ energy drinks – all sold exclusively by entrepreneurs who are known as Amway Business Owners. Amway is the No. 1 direct selling business in the world, according to the 2022 Direct Selling News Global 100 list. For company news, visit www.amwayglobal.com/newsroom.
Get more information, facts and figures about Amway, click here for the Amway overview.