The biggest MLM companies are making big bets.
As the US government grapples with the fallout from the recent healthcare crisis, the world is watching with concern as MLMs grow rapidly in China.
In a global analysis of the growth and success of the companies mentioned above, a company called MLMX listed on the Shanghai stock exchange was ranked as the biggest in the world by MarketWatch.
This comes despite its small market capitalisation, which is only $5.5 billion.
It has a global reach of just over 10 million.
It says it is “dedicated to providing the world’s most authentic and authentic lifestyle products and services”.
The company says it offers “an extraordinary array of products for all levels of living, including beauty products, health and wellness products, household products, personal care products, lifestyle products, hair care products and more”.
It has been called “one of the most well-funded and well-established businesses in the field of lifestyle”.
Its founder, Zhang Xiaolu, told MarketWatch that it was “very lucky” to be in China, given the difficulties it has faced with the government’s healthcare reforms.
He added:”The challenges we’ve faced have been pretty tough, but we’ve managed to make it through it and now are working very hard to achieve our goals.”
A spokesperson for the company said the “biggest challenges faced” in the last two years had been “the growth of Chinese consumers and the lack of awareness” about the products.
They added: “As we have learned from this experience, the big challenge that we face now is to provide the world the most authentic, authentic lifestyle product that will provide a sustainable, long-term growth for the industry.”
MarketWatch’s analysis showed that the company had been growing at a rate of 25 per cent per year in the past two years.
The majority of the revenue comes from advertising.
The company is one of many Chinese-based companies to be listed on Alibaba, a China-based marketplace where people can buy anything from shoes and watches to branded products.
The US government has said that it has taken steps to limit the number of companies listed on a platform, with the US Securities and Exchange Commission (SEC) announcing a ban on companies in the “market for personal services”.
A US official told CNBC on Thursday that the US would be looking to see whether “any other Chinese company has similar experience”.