THAILAND, Bangkok, June 14, 2013 Global nutrition company, Herbalife (NYSE: HLF), announces the opening of its Asia Pacific Extravaganza 2013 today, to be held from June 14 to June 16 at Impact Exhibition and Convention Centre, Bangkok. Attended by over 23,000 Herbalife independent distributors from 12 countries in Asia Pacific, the event promises to be the largest mega event in Thailand this year.
Extravaganza is Herbalife’s annual regional event for its independent distributors to celebrate their business success, as well as to receive the latest training in products and business building initiatives from Herbalife leaders and nutrition experts.
Mr Nopparat Maythaveekulchai, President of the Thailand Convention and Exhibition Bureau (TCEB) said “We are honored that Herbalife has selected Thailand once again as the venue for its Extravaganza mega event. TCEB as a government agency working under the supervision of the Prime Minister’s Office, has a mission to create long – term competitiveness and sustainable fundamentals for MICE industry in Thailand. It is perfectly in line with our strategy to connect business opportunities in Asia and a testimony to our country’s attractiveness and capabilities to host international gatherings of this magnitude. It underscores our readiness and high potential as a MICE destination in terms of large and modern convention and exhibition centers, as well as world-class infrastructure and facilities.”
“As part of its marketing strategy focusing on the Asia MICE market, TCEB has provided its full support to Herbalife’s mega event. In addition to highlighting Thailand’s famed hospitality, renowned cuisine and unique culture, the economic impact of the Herbalife Extravaganza gathering is very significant, with expected revenues for our country of 1,840 million baht (USD 60 million).”
Medical Healthcare is one of the key industries that TCEB has identified to further grow Thailand’s MICE market, along with other categories such as automotive and accessories, cosmetics, chemicals, finance and banking, insurance, electronics, electrical appliances and tourism. Total projected MICE industry revenues for 2013 are expected to reach USD 2.91 billion (Baht 88 billion) with up to 940,000 MICE travelers visiting Thailand this year. Therefore we regard the success of this event as an important landmark of Thailand, demonstrating our country’s unique potential and capabilities to host major international business events.” declared Mr Nopparat.
This is the 6th time that Herbalife chooses Thailand to host this large-scale gathering of independent distributors from across Asia Pacific, representing Australia, Hong Kong, Indonesia, Japan, Malaysia, Macau, New Zealand, Philippines, Singapore, Taiwan, Thailand and Vietnam. This year, to facilitate the demand from its ever expanding network of independent distributors, Herbalife is simultaneously holding another two Extravaganzas in Bangalore, India, and Seoul, South Korea. Spanning over the three major Asian cities, the Herbalife Asia Pacific Extravaganza 2013 is expected to attract a record 55,000 distributors, underscoring the growing popularity of the annual event and increasing demand for Herbalife nutrition products from Asian consumers.
Mr William M. Rahn, Senior Vice President and Managing Director, Herbalife Asia Pacific, said, “The continued growth momentum in Asia Pacific has made it necessary for us to stage our Extravaganza across different countries in Asia to accommodate the needs of the rapidly increasing number of our independent distributors. We have been experiencing consistent double-digit net sales growth in the region over the past five years. Asia Pacific is now Herbalife’s number one region worldwide, representing about 28% of the company’s global revenues in 2012, with net sales of US$ 1.14 billion (THB 34 billion).”
“The growth is mainly driven by a strong demand for our nutrition products from the increasingly health-conscious Asian consumers. Obesity and poor nutrition have been prevalent public health problems across the globe, including in many Asia Pacific countries. Together with our distributors, we are proud to be part of the solution as we are well placed to address the problems with our nutrition and weight-management products,” he added.
The global nutrition transition has led to a worldwide obesity epidemic recognized by the World Health Organization (WHO). According to WHO, for the first time in human history there are more overweight than undernourished people in the world. In Asia Pacific, according to a report by Euromonitor , several countries are predicted to see among the fastest growth in obesity rates between 2010 and 2020 - the obese and overweight population in Vietnam will increase by 225%, Hong Kong by 178%, India by 100%, South Korea by 80.7%, New Zealand by 52%, and Indonesia by 50% - as rising income leads to consumers adopting convenient Western-style diets and fast food concepts.
In Thailand, according to the Thai Ministry of Public Health, the country already ranks in the top five Asia-Pacific nations in terms of the number of obese people. Today, Thailand has over 17 million obese or overweight people, a figure that tends to increase by 4 million people each year.
“The Bangkok event is the largest of our three Extravaganzas held in Asia Pacific this year. Conveniently located in the central region of South East Asia with modern infrastructure and rich experience in hosting world-class events, Bangkok is an ideal choice for us to host business events in Asia. We are thankful for the support extended to us by the Thailand Convention and Exhibition Bureau, which has been a remarkable help in making our Extravaganza event a success.” Mr Rahn concluded.
Thailand Convention & Exhibition Bureau (TCEB) was created as a vibrant, 21st-century, cutting-edge professional organization. TCEB's organizational design, with its flat and agile structure, enables the TCEB team to deliver prompt and superior service, whilst achieving the highest level of operational efficiency and effectiveness. These are essential to Thailand's MICE competitiveness on the regional and global stage. TCEB promotes ethical and responsible business behaviour based on its core values of customer enthusiasm, integrity, teamwork, innovation, continuous improvement, and responsibility. www.tceb.or.th.
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Herbalife Ltd. (NYSE:HLF) is a global nutrition company that sells weight-management, nutrition, and personal care products intended to support a healthy lifestyle. Herbalife products are sold in more than 80 countries to and through a network of independent distributors. The company supports the Herbalife Family Foundation and its Casa Herbalife program to help bring good nutrition to children. Herbalife's website contains a significant amount of information about Herbalife, including financial and other information for investors at ir.Herbalife.com. The company encourages investors to visit its website from time to time, as information is updated and new information is posted.
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