A Utah-based direct marketer of cosmetics and nutritional supplements makes China its growth engine. What could go wrong? Plenty. Nu Skin Enterprises saw its market cap cut nearly in half this week after a Chinese newspaper described its sales tactics as “brainwashing”. Chinese regulators will investigate. The company, while denying impropriety, has said the review will hurt sales. A direct sales company can resemble a pyramid scheme, or be one, and it can be hard to tell the difference (ask Bill Ackman about Herbalife). But the Nu Skin story is also about the perils of doing business in China.
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