Markets Magazine
Amway Embraces China Using Harvard Guanxi
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On a sweltering July evening in the inland Chinese city of Hefei, 1,000 people whistle and clap as Cao Yuchao tells them about Amway Corp., the household-products giant named after the American Way.
Against a rainbow backdrop and the Chinese characters for glory and dreams, Cao, Amway’s local chief, paints a glowing portrait: China has been the company’s top market for nine years, with booming sales of Artistry cosmetics and Nutrilite dietary supplements. Amway also was a sponsor of China’s team at the 2012 Olympics, Bloomberg Markets will report in its November issue.