Aloe Vera Trading Co., Ltd. has recently appointed Ms. Truong Vo Hoang Yi (born in 1992) as its new General Director and Legal Representative, succeeding Ms. Truong Thi Nhi (born in 1948) in this role.
Ms. Nhi, the founder and long-time leader of this multi-level marketing company since 2001, has stepped down. According to the latest update on the company’s charter capital in March 2023, Aloe Vera has a capital of VND 50 billion, of which Ms. Nhi owned 98.72%, Ms. Nguyen Thi Thuy Duong 1.28%, and the rest by other shareholders.
However, according to the company’s website, Ms. Nhi still holds the position of Chairwoman of the Board of Directors. In addition to Aloe Vera, Ms. Nhi also holds positions in several other companies, including LH Holding Group JSC, Lotus Commercial and Tourism Service Group JSC, Megacash Pawnshop, Vinh Thanh Ben Tre JSC, Nguyen Kim Gold and Jewelry JSC, and Lien Hoa Go JSC.
She has also been re-elected as Chairwoman of the Vietnam Multi-Level Marketing Association for the term 2020-2025. Aloe Vera made waves in the early 2000s with its multi-level marketing business model, especially among the 8X-9X generation. Recently, the company has been in the spotlight again due to its association with the couple Doan Di Bang, who are known to have held senior management positions at Aloe Vera.
A screenshot from a company event featuring the couple, Doan Di Bang, and Ms. Truong Thi Nhi.
In terms of business, Aloe Vera imports and distributes Forever Living Products’ cosmetics and health products from the United States in Vietnam. The company claims that its products are currently available in 44 representative offices and branches (including licensed locations) across nearly 40 provinces nationwide.
Image source: Company Website
According to the website, Aloe Vera offers a range of 66 products, including skincare and personal care cosmetics, as well as functional foods for health, skincare, and weight loss support. Historical financial indicators of Aloe Vera show that during the period of 2002-2011, the company’s revenue grew rapidly from just a few billion VND to hundreds of billion VND. The amount of commissions paid to distributors during this period also increased continuously, reaching hundreds of billion VND.
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