Alticor reaches $8.2 billion, powered by strong China, Europe, India performances

ADA, Mich., FEBRUARY 5, 2009—Amway’s parent company, Alticor Inc., announced record sales of more than US$8.2 billion for the year ended Dec. 31, 2008, a 15 percent increase over the $7.1 billion reported in 2007.

Two-thirds of the company’s 58 affiliates recorded sales increases in 2008, including strong growth in the China, Russia and India markets.

“Amway enters its 50th anniversary year in a strong position,” said chairman Steve Van Andel. “In 2008, more consumers than ever before responded positively to the appeal of the Amway business opportunity and our outstanding product brands.”

Said president Doug DeVos: “The hard work of our talented distributors, and the committed effort of our employees, helped Amway record a terrific year in a tough global economy. We are making changes to stay in tune with the marketplace, and the results are very encouraging.”

Eva Cheng, executive vice president responsible for Amway markets in Greater China and Southeast Asia has been named as the World's 88th Most Powerful Women by Forbes Magazine. No. 1 on the list was Angela Merkel, Chancellor of Germany.

According to Forbes, their annual ranking of the most powerful women in the world measures "power" as a composite of public profile - calculated using press mentions - and financial heft. The economic component of the ranking considers job title and past career accomplishments, as well as the amount of money the woman controls.  A chief executive "controls" the revenue of her business, for instance, while a head of state gets the country's gross domestic product. The raw numbers are modified to allow comparisons across financial realms. 

Eva Cheng's responsibilities encompass mainland China, Taiwan, Macau SAR, Hong Kong SAR as part of Amway Greater China and Thailand, Malaysia, Singapore, Indonesia, Brunei, and the Philippines within Amway Southeast Asia.

Before assuming additional responsibility for the Southeast Asian markets in April 2005, Cheng was best known for driving the growth and development of Amway’s business in Greater China. Amway (China) Company Ltd. (ACCL) has regularly been recognized by business magazines, surveys, and government agencies as one of China’s most admired companies and best employers.

Cheng is a graduate of the University of Hong Kong with a bachelor of arts degree with honors and a master’s of business administration degree. She began her career with Amway in 1977.

Alticor, parent company to Amway, Quixtar, and Nutrilite, the world's best selling nutritional brand, has launched a new website targeting consumers interested in weight loss - mybestsize.com.

In 2007, the European affiliates of Amway – one of the leading direct selling companies in the world – its employees and Independent Business Owner raised 1.07 million Euros for needy children in Europe, Kenya and Russia within Amway’s global One by One Campaign. “’Giving people the chance to become independent’ is core to our business”, said Mark Beiderwieden Sr. Vice President and Managing Director Amway Europe. “Sharing with our community and helping children through our One by One campaign, is equally a core part of our company’s activities.” The money was raised through a variety of activities, for example by crafting and selling rag dolls or selling Christmas cards. About two thirds of the donations were collected by the Amway distributors.