Profiles of Success
About The Author
Amway (short for The “American Way”, renamed to Quixtar in 2001) is an American company that uses a multi-level marketing model to sell a variety of products, primarily in the health, beauty, and home care markets. Amway was founded in 1959 by Jay Van Andel and Richard DeVos. Based in Ada, Michigan, the company and family of companies under Alticor reported sales of $9.5 billion for 2015, the second consecutive year of decline for the company. Its product lines include home care products, personal care products, jewelry, electronics, Nutrilite dietary supplements, water purifiers, air purifiers, insurance, and cosmetics. It has several times been subject to investigation in various countries, by institutions such as the United States Federal Trade Commission (FTC), for alleged pyramid scheme related practices.
Amway conducts business through a number of affiliated companies in more than a hundred countries and territories around the world, ranked No. 29 among the largest private companies in the United States by Forbes in 2015 and No. 1 in multi-level marketing by Direct Selling News