American nutrition supplements company Herbalife Ltd. has created a China Growth and Impact Investment Fund to accelerate growth of its business in China.
The RMB600 million ($90 million) fund will focus on five key areas: new acquisitions in health and wellness products and companies; expansion of nutrition clubs; increasing and improving technology; providing additional research, learning and training; and public-private partnerships focused on eradicating obesity.
Herbalife develops, markets and sells nutrition supplements, weight management, sports nutrition and personal-care products via a multi-level marketing scheme.
Herbalife recorded $868.8 million in sales from China, accounting for 19.4 per cent of its global sales in 2016. As of December 31, 2016, it had approximately 300,000 sales and independent service providers in China, accounting for 7.5 per cent of its global sales force.
