Access Business Group International LLC history

Established in 1959, Amway is a family-owned, multi-billion dollar direct-selling company with more than 19,000 employees globally.

The first full year of operations in 1960 resulted in gross sales of $500,000.

1964: The business is renamed Amway Corporation.

It was not surprising that some items were not successful, however, for by 1968 the company was selling more than 150 products through its 80,000 distributors.

Operations in the United Kingdom began in 1973.

A 1976 Harris poll of United States households found that 16 percent of the respondents had tried direct selling.

A luxury resort and hotel complex on Peter Island in the British Virgin Islands was purchased in 1978, another amenity used to motivate Amway distributors.

1979: After years of investigation, the Federal Trade Commission declares Amway's business model is legitimate.

In 1982 Jay Van Andel chaired the Netherlands American Bicentennial Commission, while the company sponsored an art exhibit at Amsterdam's Stedelijk Museum.

By Amway's 25th anniversary in 1984, there were 24 Crown DDs and 15 Crown Ambassador DDs.

In 1990, over 500,000 Japanese belonged to Amway, making the company one of the largest and most profitable foreign companies in Japan.

Dick DeVos was named president in 1992, and Steve Van Andel was appointed company chairman.

Sales peaked at $7 billion in 1997 before falling 18.5 percent the following year to $5.7 billion.

In September 1999, the company established a new company named Quixtar to sell consumer products on the Internet.