Tough times prove profitable for Amway

ADA, Mich. (WOOD) - Historically, when times are tough, business is good for Amway. That is once again proving true. in the 50th year of their existence.

Alticor, the parent company of Amway, reported sales jumped 15% in 2008, with total sales of $8.2 billion. The largest part of their sales - 80% - came in foreign markets. Of their 59 worldwide affiliates, two-thirds reported an increase in sales, with much of the growth in Russia, China and India.

The Amway name is once again prominent. Advertising and marketing efforts increased, including high profile event sponsorships and television advertising.

Company leaders Steve Van Andel and Doug DeVos, the sons of the founders, also attribute the growth to other factors, including the rise in unemployment. People turn to Amway to become product distributors to make extra money.

A private company, they do not release financial numbers to the public

There are no immediate plans to expand in 2009, but a 50th anniversary celebration will include events in both Grand Rapids and Las Vegas in May.