Longrich
| Company type | Subsidiary |
|---|---|
| Industry | Direct selling |
| Founded | 1986 Jiangsu province |
| Founder |
|
| Headquarters | Jiangsu province , |
Area served | Worldwide |
Key people | Xu Zhiwei, Executive Chairman CEO |
| Products |
|
| Revenue |  US$ 1 billion (2018)[1] |
| Owner | Jowell Global |
Number of employees | 12000+ |
| Website | www |
Longrich (Chinese: 隆力奇; pinyin: Lónglìqí:) Bioscience Co., Limited is a multinational company that sells health, organic food, nutritional supplements, beauty, home care and pet care products. Longrich operates under its holding company Jowell Global.
History
The company was founded in 1986 by Xu Zhiwei (俆之伟), producing a variety of snake products to consumers in China and other countries.[2] After attaining significant growth, he expanded into cosmetics manufacturing.[3][4][5][6] Since the 1990s, Longrich has been very influential in the Chinese cosmetics industry.[7][8] Longrich has been an OEM (original equipment manufacturer) and ODM (original design manufacturer) for some established multinational brands. Longrich researches, develops and manufactures a wide range of products through its corporate divisions across the globe and its main manufacturing plant at the Bio-Industrial Park, Jiangsu province of China. The Industrial Park covers an area of more than 2000 MU (about 500 acres). Longrich's research and development centers are located in the US, Japan, France and other parts of the world.[2][9]
A manufacturing plant is under construction in the Lekki Free Trade Zone of Lagos, Nigeria.[10][11][12][13][14]
Business model
Longrich sells its products to end-users through a multi-level marketing (MLM) model. Longrich distributors can potentially make income by directly selling to people and also receive a commission on wholesale purchases made by people they recruit into the distribution network. Longrich distributors must purchase varying rates on a pro-rata basis either independently or as a team for starter kits to qualify. In addition, distributors can be compensated by selling the products in retail outlets. Longrich's affiliated companies and distributors operate in over 50 countries and territories globally.[15][16][2]
References
- ^ "2018 Global 100 List of top Direct Selling Companies in the World based on 2017 Revenue". Direct Selling News. February 24, 2019. Retrieved August 18, 2021.
- ^ a b c "Longrich". Retrieved August 20, 2021.
- ^ "He's Out to Charm With Snake Products : China: Xu Zhiwei's firm sold $14.6 million worth of accessories, food and cosmetics made from the reptile in '94. He's hoping to build a global empire". Los Angeles Times. July 10, 1995. Retrieved August 19, 2021.
- ^ LIU WEILING; DIAO YING. "Cutout for success". China Daily).
- ^ Se-jin Chang (2013). Multinational Firms in China: Entry Strategies, Competition, and Firm Performance. Oxford University Press. p. 70. ISBN 9780199687077.
- ^ Daniel F. Spulber (2007). Global Competitive Strategy. Cambridge University Press. p. 64. ISBN 9781139467117.
- ^ Leila Fernandez-Stembridge; Juan Antonio Fernandez (2007). Top 10 cosmetics enterprises (China's State Owned Enterprise Reforms: An Industrial and CEO Approach). Routledge Studies in the Growth Economies of Asia. ISBN 9781134142903.
- ^ Christopher S. Tang; Chung-Piaw Teo; Kwok-Kee Wei (2007). Market share of skincare products in China (Supply Chain Analysis: A Handbook on the Interaction of Information, System and Optimization Volume 119 of International Series in Operations Research & Management Science). Springer Science & Business Media. p. 8. ISBN 978-0-38-77524-02.
- ^ Yang Feiyue (May 5, 2018). "Marketing ploy proves that success is more than skin deep". China Daily.
- ^ Chika Otuchikere (June 25, 2021). "Chinese firm to build AI production line in Lagos". BusinessDay. Retrieved August 19, 2021.
- ^ Benneth Joshua (June 25, 2021). "FG seeks technology transfer from China". Daily Independent.
- ^ Mudiaga Affe (November 22, 2019). "Longrich to produce for multinationals from Lagos factory". Retrieved August 20, 2021.
- ^ Gabriel Olawale (April 13, 2021). "Longrich factory in Nigeria set for operation, to employ 1000 youths". The Vanguard. Retrieved August 20, 2021.
- ^ Olukayode idowu (June 25, 2021). "Consul General of Nigeria in Shanghai, China calls for closer cooperation with Longrich". Sunrise. Retrieved August 20, 2021.
- ^ Thomas DuBois; Huaiyin Li (2016). Agricultural Reform and Rural Transformation in China since 1949 (Historical Studies of Contemporary China. BRILL. p. 22. ISBN 9789004322493.
- ^ "Face Cream Market 2021 Present Status, Demand By Regions, Manufacturers Analysis: Beiersdorf AG, Coty Inc., Jiangsu Longliqi Biotechnology Co., Ltd., Johnson & Johnson, Kao Corporation, L'Oral S.A., Reckitt Benckiser Group Plc" (Press release). Market Watch. July 23, 2021. Retrieved August 20, 2021.