Global nutrition company Herbalife (NYSE: HLF) was honored with the “Product of the Year” award for its Formula 1 Nutritional shake in the category of “Efficient Weight Management Nutrition” at a recent ceremony in Moscow, Russia.
The national Product of the Year Awards, sponsored by the Russian Chamber of Commerce and the Moscow International Business Association (MIBA), are in their sixteenth year and recognize the most popular consumer goods products in Russia. They bring together the largest Russian and international manufacturers, retailers and banks, and awards are presented in 50 categories as chosen by consumers.
Herbalife’s weight-management, nutrition and personal care products help support healthy lifestyles in more than 90 countries.
Herbalife International is an American multi-level marketing company that develops, markets and sells nutrition, weight management and skin-care products globally. The company was founded in 1980, and it employs around 7,400 people worldwide. Herbalife reported net sales of US$4.072 billion in 2012, an 18% increase over 2011, and net income of $477.19 million, a 16% increase over 2011. It incorporated in the Cayman Islands, and its corporate headquarters is in Los Angeles, California, United States.
The company distributes its products in 91 countries (as of November 2013) through a network of approximately 3.2 million independent distributors, some of whom earn profit on product sales and additional commission from a multi-level marketing (MLM) compensation structure.