Herbalife Ltd. (HLF) , a global nutrition and direct selling company, announced that China's Ministry of Commerce has granted five additional licenses for the company to conduct direct-selling business in the provinces of Beijing, Guangdong, Shandong, Zhejiang and Guizhou. All licenses are effective immediately, except Beijing which will be activated after the company opens service outlets.
Herbalife received its first direct-selling license in China in March 2007 for the cities of Suzhou and Nanjing in the Jiangsu province. An additional license was granted in July of the same year to conduct business throughout the entire province.
"We are honored to receive these additional licenses from the Chinese government," said Herbalife Chairman and CEO Michael O. Johnson. "We appreciate this opportunity to expand our business in this important marketplace."
The company today also announced the opening of its store in Shanghai. Herbalife now operates 91 retail stores in 30 provinces in China.