This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Amid Vietnam Gloom, US Company Promises Riches

CHRIS BRUMMITT

HO CHI MINH CITY, Vietnam (AP) â¿¿ The Australian salesman flashed up a slide of a black Rolls Royce and pitched enticingly to a roomful of Vietnamese students facing an uncertain economic future: join me in selling anti-aging products and the car â¿¿ and much more â¿¿ could be yours in just a few years.

It's a simple formula that has worked well for the company, Nu Skin, which has stormed through Asia over the last two decades, racking up huge profits despite regulatory scrutiny over its marketing practices and the efficacy of the products that it sells.

Vietnam is the latest frontier for the Utah-based company, which set up here in August, launching at a time of stuttering economic growth, rising business bankruptcies and joblessness.

That kind of environment would hold back many consumer companies, but for multilevel marketers it is not necessarily a problem. Selling a cheap business opportunity, not to mention one that is billed as lucrative, is easier in troubled times. With unemployment lines lengthening, there are more potential recruits in a country where the average income is about $3,000 a year.

"When the economy is bad, people turn to us," said the Australian, Brian Tran, one of more than 100 foreigners who have come to Vietnam seeking a position atop the Nu Skin pyramid as it grows in virgin territory. "There are millions of unemployed. It is the right time for MLM. The market is just exploding."

Companies like Nu Skin market their skin care, weight loss and nutritional products via a network of independent distributors who get paid a commission on the volume they sell. The marketers are encouraged to sign up recruits and are then paid a commission based on sales they make. In such a way, a few thousand distributors at the top of sales networks spanning the world can make fantastic salaries. Tran, a "blue diamond" sales executive, claims to be on $45,000 a month, much of it from the Vietnam market. Those at the bottom make much less.

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,039.49 +60.36 0.36%
S&P 500 1,992.37 +5.86 0.30%
NASDAQ 4,532.1040 +5.6220 0.12%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs