UNVR IJ: Stiff Competition to Reduce Unilever Indo's Lofty Valuation Premium
Unilever Indonesia (UNVR IJ) has long been dubbed as the proxy for the rising middle-class domestic consumption story in Indonesia and enjoyed a...
545 Views
Herbalife China: RMB Appreciation Tailwind for All MNCs; Fundamental Slowdown Irreversible
China is about ~20% of HLF global sales. We have been stunned by the incredible disconnect between the stock’s incredible overperformance (~50%...
131 Views
Herbalife China: Q1 VP Down ~25% YoY, New Cash Bonus Policy to Retain Distributors
According to our surveys of Herbalife Ltd (HLF US) China distributors, we estimate that volume points declined by ~25% and ~10% year-over-year in...
146 Views
Herbalife China: Sales Collapsed in January; Government Opening Investigation
According to our Herbalife Ltd (HLF US) distributor checks in North, South, Center and East China, HLF China sales dramatically declined by ~20% in...
627 Views
Herbalife China in Transition: 2017 Review
2017 was a challenging year for Herbalife Ltd (HLF US) China, a market that generates ~30% of the entire company's revenue. The formal CEO Jerry...
207 Views