Herbalife Nutrition is getting into the iced coffee business. The company recently announced plans to sell their Herbalife Iced Coffee which provides users with a burst of both caffeine and protein.
Herbalife Nutrition offers entrepreneurs a way to cash in on the company’s successes. There is a way to become an independent contractor for Herbalife Nutrition. These independent contractors are given much support along the way. They get support from their sponsor as well as from other people who have been independent contractors with Herbalife Nutrition longer.
Herbalife Nutrition began in 1980. The founder created a protein shake that helps to suppress the appetite of those who drink it. He thought of the idea after watching his mother die at a young age of obesity and malnutrition. To date, the original protein shake that was sold from the trunk of the founder’s vehicle is still the biggest selling product the company has.
The products Herbalife Nutrition sells are manufactured in Herbalife Nutrition facilities. They have facilities in China and the United States. The company headquarters are in California. They were incorporated in the Cayman Islands. The founder of the company is Mark Hughes.
Mark Hughes was the founder and CEO of Herbalife Nutrition until his untimely death at age 44. His death was attributed to a lethal dose of an anti-depressant and alcohol. The company was traded on the NASDAQ. Now it is traded on NYSE.
There have been lawsuits filed against Herbalife Nutrition. These lawsuits range from a suit by the US Federal Trade Commission. This suit claimed that the Herbalife Nutrition business model is a pyramid scheme. The company settled the suit without admitting wrongdoing. They agreed to pay their independent distributors the sum of $200 million USD.
Herbalife Nutrition entering into the iced coffee market is just a small step in the growth of the company. The company manufactures and sells a whole line of nutrition products. Some of these products include nutrition supplements, sports nutrition, weight management, and personal-care products. The jump into the iced coffee market is geared at the millennials. They added protein to the iced coffee packets and now it is considered a nutritious drink.
In conclusion, this article discussed the founding of Herbalife Nutrition. We discussed the founder and the original CEO. Also, talked about was the fact that Herbalife Nutrition is not immune to the many lawsuits a company must face.