Press release from Business Wire
Herbalife Ltd. Receives Approval for Additional Direct-Selling Licenses in China
Monday, May 21, 2012
LOS ANGELES (Business Wire) -- Herbalife Ltd. (NYSE: HLF) announced that China's Ministry of Commerce has granted eight additional licenses for the company to conduct its direct-selling business in Hebei Province, Shanxi Province, Tianjin Municipality, Heilongjiang Province, Hunan Province, Guangxi Zhuang Autonomous Region, Hainan Province, and Anhui Province. All licenses are effective immediately.
Herbalife received its first direct-selling license in China in March 2007, for the cities of Suzhou and Nanjing in the Jiangsu province. An additional license was granted in July of the same year to conduct business throughout the entire Jiangsu province. In July 2008, it received five additional licenses for the provinces of Beijing, Guangdong, Shandong, Zhejiang and Guizhou, and in July 2009 licenses were granted for Fujian, Shan'Xi, Sichuan, Hubei, and Shanghai. Another five licenses were received in July 2010 for the company to conduct its direct-selling business in the provinces of Jiangxi, Liaoning, Henan, Jilin, and Chongqing.
Herbalife now has direct selling licenses in 24 provinces, and as of March 31, 2012 the company was operating 68 retail stores in 29 provinces in China.
About Herbalife Ltd.
Herbalife Ltd. (NYSE:HLF) is a global nutrition company that sells weight-management, nutrition, and personal care products intended to support a healthy lifestyle. Herbalife products are sold in 81 countries through a network of independent distributors. The company supports the Herbalife Family Foundation and its Casa Herbalife program to help bring good nutrition to children. Herbalife's website contains a significant amount of information about Herbalife, including financial and other information for investors at http://ir.Herbalife.com. The company encourages investors to visit its website from time to time, as information is updated and new information is posted.
George Fischer, 213-745-0519