ADA (WZZM) - Amway parent company Alticor Inc., released 2012 sales numbers this week reporting the seventh consecutive year of growth for the company.
Global sales last year came in at $11.3 billion. That's up roughly 4% from 2010, when the company reported sales of $10.9 billion.
"You know our business model is really sound. The economic conditions affect us but not like other industries. Direct selling ,we can move through challenging economic times really well," said Doug DeVos, president of Amway.
For the first time in more than 20 years, sales increased in each of the top 10 markets for Amway, including China, India, Japan, Korea, Malaysia, Russia, Taiwan, Thailand, Ukraine and the United States. Markets posting double-digit increases in 2012 include Columbia, Hong Kong, Italy, Mexico, Russia, Turkey and Venezuela. That is according to a press release the company released Thursday.
DeVos says the company works hard to continue to solidify its success in the global market.
"We have to continue to invest in R&D. We continue to invest in infrastructure to support them and we have to meet the needs of the market place," he said. "Things are going well around the world. So our top 10 markets represent a geographic diversity. They represent old markets and new markets. I think that gives us a really solid foundation for the future."
The company has nearly doubled in size over the past six years and has seen growth in 12 of the last 13 years. Company executives expect future years to bring more success and better sales numbers.
"I think you are going to continue to see us develop our beauty category. Nutrilite, the #1 branded vitamin in the market, you are going to see us defend that position and work hard to enhance it," said DeVos. "We have invested in new manufacturing here that we just got up and running. We have some more manufacturing here in Ada that we are going to get up and running in the next few. We have expanded our R&D in California at the Nutrilite facility. You are going to see us continue to invest to protect and build that brand as well."