Nature's Sunshine Products history

In 1973, one year after the Hugheses founded their business, National Multi Corporation was organized as a holding company for Hughes Development Corporation.

Meanwhile, the Hugheses had taken their company public in 1978, enabling others to share in the profits of their enterprise and generating an infusion of capital to sustain the company's expansion.

Annual sales, for the first time in the company's history, declined in 1985, slipping from $33.3 million to $29.4 million, while earnings per share plummeted from 65 cents to 15 cents.

By the end of 1986, in fact, the company's foray into foreign markets had developed into a meaningful and burgeoning portion of its business, contributing 20 percent toward Nature's Sunshine's annual sales volume.

Though the increase in net income pointed to an undoubtedly flourishing company, the 16 percent sales growth achieved in 1988 only mirrored the pace of growth recorded by the industry, which induced the Hugheses to begin looking for a way to accelerate their company's financial growth.

In late 1992, Nature's Sunshine sold its Australian and New Zealand marketing subsidiaries (Nature's Sunshine Products of Australia and Nature's Sunshine Products Ltd.) to local management, creating two independently owned and operated companies.

An estimated $4.6 billion was spent on vitamins, minerals, and herbal supplements in 1994, with the market for herbal supplements alone increasing 20 percent.