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Amway

Amway Corp
Company typePrivate
IndustryMulti-level marketing
FoundedNovember 9, 1959 (1959-11-09)
Founder
HeadquartersAda, Michigan, United States
Area served
Worldwide
Key people
Products
BrandsAmway Home, Glister, G&H, Nutrilite, Artistry, AmwayQueen, eSpring, Atmosphere, XS Energy
RevenueUS$ 8.1 billion (2022)[1]
Number of employees
15,000+[1]
ParentAlticor
Websitewww.amway.com Edit this at Wikidata

Amway (short for "American Way") is an American multi-level marketing (MLM) company that sells health, beauty, and home care products.[2][3][4] The company was founded in 1959 by Jay Van Andel and Richard DeVos and is based in Ada, Michigan.[5] Amway and its sister companies under Alticor reported sales of $8.9 billion in 2019.[1] It is the largest multi-level marketing company in the world by revenue.[6] It conducts business through a number of affiliated companies in more than a hundred countries and territories.

Amway has been investigated in various countries and by institutions such as the Federal Trade Commission (FTC) for alleged pyramid scheme practices. The company has paid tens of millions of dollars to settle these suits.[7][8][9][10][11][12] Between 2007 and 2008, Amway was found guilty of illegal business practices in India. This ruling was upheld by the Indian Supreme Court. The crackdown was followed up to in 2021 by the Enforcement Directorate attaching company and bank assets, and labeling Amway's business model a "pyramid fraud" and the product offerings a "masquerade".[13][14][15] In 1983, Amway admitted to defrauding the Canadian government for 15 years and had to pay a fine.[16]

  1. ^ a b c "Amway". Forbes. Archived from the original on January 25, 2023. Retrieved January 25, 2023.
  2. ^ Xardel, Dominique (1993). The Direct Selling Revolution. Understanding the Growth of the Amway Corporation. Blackwell Publishing. pp. 1–4. ISBN 978-0-631-19229-9.
  3. ^ "About Amway – Global Leader in Direct Selling". Amway.com. June 23, 2011. Archived from the original on April 18, 2009. Retrieved July 9, 2011.
  4. ^ "The Times 100 Business Case Studies: Amway – Direct selling and supply chain". February 22, 2008. Archived from the original on December 20, 2007. Retrieved July 9, 2011.
  5. ^ "Amway Corp—Company Profile and News—Bloomberg Markets". Bloomberg. Archived from the original on September 2, 2019. Retrieved September 2, 2019.
  6. ^ "What Is an MLM? How Multilevel Marketing Works". Archived from the original on February 18, 2023. Retrieved January 25, 2023.
  7. ^ "Pyramid Schemes". Federal Trade Commission. May 13, 1998. Archived from the original on December 16, 2013. Retrieved July 19, 2015.
  8. ^ Cite error: The named reference classaction was invoked but never defined (see the help page).
  9. ^ Cite error: The named reference ibtimes was invoked but never defined (see the help page).
  10. ^ Cite error: The named reference Kerala raids was invoked but never defined (see the help page).
  11. ^ Sanandakumar, S (May 29, 2013). "Amway India Chairman William S Pinckney, two Directors granted bail". The Economic Times. Archived from the original on December 17, 2016. Retrieved May 28, 2014.
  12. ^ Adler, Roger (March 4, 2009). "Amway GC Lives the Dream". Law.com. Archived from the original on June 7, 2011. Retrieved December 29, 2018.
  13. ^ "Andhra Police arrest Amway India CEO, act evokes condemnation". Business Standard. May 27, 2014.
  14. ^ www.ETRetail.com. "Amway guilty of misbranding, asked not to sell two products - ET Retail". ETRetail.com. Retrieved April 7, 2024.
  15. ^ "Here's how some of the other big countries deal with Amway". CNBCTV18. April 21, 2022. Retrieved April 7, 2024.
  16. ^ Martin, Douglas (November 11, 1983). "Amway admits fraud". The New York Times.

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