Nu Skin Contributes to Economic Opportunity for Women in Underserved Communities

Rhea-AI Summary

Nu Skin Enterprises (NYSE: NUS) announced a donation of nearly $100,000 to MCE Social Capital as part of International Women's Day. The funds will support women entrepreneurs in developing countries through microloans. Since 2006, MCE has impacted over 9 million people, with 73% being women. The donation results from previous sales of the ageLOC LumiSpa device. With a focus on sustainability, this initiative aligns with Nu Skin’s mission to empower individuals and promote economic opportunities for underserved communities.

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• Donation of nearly $100,000 to MCE Social Capital to empower women entrepreneurs.
• MCE has supported over 140 enterprises, impacting more than 9 million people.
• 73% of MCE's beneficiaries are women, aligning with Nu Skin's focus on female empowerment.

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• None.

PROVO, Utah, March 8, 2022 /PRNewswire/ -- Nu Skin Enterprises, Inc. (NYSE: NUS), a global leader in beauty and wellness, today announced a donation of nearly $100,000 from the Nu Skin Force for Good Foundation to MCE Social Capital in conjunction with International Women's Day. MCE is a nonprofit impact investing firm that generates economic opportunities throughout the developing world. With a focus on investing in women and environment and climate action, MCE unlocks capital to empower families living in poverty to build a better future for themselves.  

"Nu Skin's mission has always been focused on empowering people to improve lives, a focus that we share with MCE Social Capital," said Ruth Todd, Nu Skin senior vice president and vice chair of the Nu Skin Force for Good Foundation. "As a company with thousands of entrepreneurial women, we love opportunities to help empower other female entrepreneurs throughout the world. We are thrilled to support MCE in its efforts to provide microloans to women, particularly in rural areas of developing countries, who do not otherwise have easy access to financial services."

In late 2021, Nu Skin and one of its device manufacturing partners made a donation for each sale of ageLOC LumiSpa, the company's top-selling product in its award-winning line of beauty device systems, during that time. Those funds went to the Nu Skin Force for Good Foundation and were then donated to MCE. The company is announcing the donation in conjunction with its International Women's Day celebrations, which also include an employee service project to support local STEM programs, as well as a company-wide listen and learn event to facilitate discussion around breaking gender bias.

Since its inception in 2006, MCE has invested in more than 140 enterprises to benefit more than 9 million people, 73 percent of which are women. Nu Skin's support will help the organization reach more small businesses in the agriculture value chain, including those that create sustainable jobs in rural economies, increase the income of smallholder farmers and strengthen climate resilience.

Some examples of women who have benefitted from funding made possible by MCE include:

• Margarita is a smallholder pitahaya farmer and client of Sol Organica, a certified B-Corporation in Nicaragua that seeks to improve the livelihoods of tropical fruit farmers and promote the use of organic farming practices. Together, they successfully planted more than 2 million native trees on farms.
• Melba, a client of Finamiga, is a hard-working mother of three and micro-entrepreneur with her own food cart in Cali, Colombia.
• Teresa has been a client of CrediCampo for more than a decade. She is a smallholder farmer in El Salvador who used her first loan to purchase a motor mill to process her family's corn harvest. She has since increased her family's income and made needed improvements to their home.

To date, MCE has deployed more than $242 million in debt financing with a 98.5% repayment rate. For more information, visit https://www.mcesocap.org/.

MCE Social Capital
MCE Social Capital is a nonprofit committed to empowering families living in poverty to build a better future for themselves, with a focus on women and environmental and climate action. MCE develops long-term partnerships with and invests capital in dynamic social enterprises so they can scale and better serve their customers, their employees, and their communities, generating sustainable and inclusive economic growth in some of the poorest regions of the world. Since 2006, MCE has invested in more than 130 enterprises and impacted more than 9 million people, 73 percent of which are women.

About Nu Skin 
Nu Skin Enterprises, Inc. (NYSE: NUS) is a leading beauty and wellness company, powered by a dynamic affiliate opportunity platform. The company helps people live, look and feel their best with products that combine the best of science, technology and nature. Backed by more than 35 years of scientific research, Nu Skin develops innovative products including Nu Skin® personal care, Pharmanex® nutrition and the ageLOC® anti-aging brand which includes an award-winning line of beauty device systems. Nu Skin operates in approximately 50 markets worldwide in the Americas, Asia, Europe, Africa and the Pacific. Rhyz Inc. is the company's strategic investment arm that includes a collection of technology and manufacturing companies to support growth in the core Nu Skin business. Nu Skin is committed to sustainability, including global initiatives such as transitioning to reduced and sustainable packaging for all products by 2030. The Nu Skin Force for Good Foundation also strives to improve children's health, education and economic circumstances throughout the world. For more information, visit nuskin.com.

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SOURCE Nu Skin Enterprises

FAQ

What is the donation amount announced by Nu Skin on March 8, 2022?

Nu Skin announced a donation of nearly $100,000 to MCE Social Capital.

How does Nu Skin's donation benefit women entrepreneurs?

The donation supports microloans for women entrepreneurs in developing countries.

What percentage of MCE's beneficiaries are women?

73% of MCE's beneficiaries are women.

What is the ageLOC LumiSpa's role in Nu Skin's donation?

Sales of the ageLOC LumiSpa contributed to the funds donated to MCE Social Capital.

What is the mission of MCE Social Capital?

MCE Social Capital's mission is to empower families living in poverty, with a focus on women and environmental action.