Herbalife Vietnam Revenue reported a 1.7% year-on-year increase in net sales in 2024, reaching an impressive $283.7 million, according to the company’s annual financial disclosure. This growth comes despite currency exchange headwinds and a hike in product pricing.
Fluctuations in the Vietnamese dong’s exchange rate had a notable impact on performance, resulting in an unfavorable currency effect of $14.4 million. However, when measured in local currency, Herbalife saw a more robust 6.8% increase in net sales year-over-year.
This suggests strong domestic demand and resilience in the Vietnamese market.
Herbalife implemented a 3.5% price increase in March 2024, following a 3% increase in March 2023. Despite these consecutive price hikes, net sales continued to grow—showcasing brand loyalty and continued consumer trust in Herbalife’s health and wellness products.
Vietnam remains one of Herbalife’s top-performing markets in the Asia-Pacific region, behind only India ($844.8 million) and China ($297.6 million). The 2024 results confirm Vietnam’s strategic importance in Herbalife’s regional growth strategy.
Herbalife products sold in Vietnam are manufactured in the U.S.-based Herbalife Innovation & Manufacturing (HIM) facilities in Lake Forest and Winston-Salem. In Vietnam, the company operates under Herbalife Vietnam SMLLC, which was launched in 2009 and is headquartered in Ho Chi Minh City.
Today, Vietnam marks the 71st country where Herbalife has established a presence. By revenue, it is currently the leading multi-level marketing (MLM) company in Vietnam.
According to the Ministry of Industry and Trade, Vietnam currently licenses 19 MLM businesses involving approximately 768,000 participants. Despite a 20% decline in overall industry revenue to VND16.8 trillion ($652.2 million) in 2023, Herbalife continues to outperform its competitors.
Prominent MLM brands operating in the country include:
Herbalife
Oriflame
Amway
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Founded in 1980, Herbalife Ltd. (NYSE: HLF) is a global leader in the health and wellness sector. The company offers science-backed nutrition products in over 90 countries through a network of independent distributors. These entrepreneurs not only sell products but also provide one-on-one coaching and foster a supportive wellness community.
In 2024, Herbalife’s global net sales reached $5.06 billion, reflecting the strength of its business model and international footprint.
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