Herbalife is a global nutrition company that sells health and wellness products — primarily meal replacement shakes, protein supplements, herbal teas, and dietary supplements — across 95 markets. The flagship product, Formula 1 Nutritional Shake Mix, accounts for roughly 25% of net sales. Herbalife sells exclusively through a network of approximately 6.4 million independent distributors ("Members"), who buy products at a wholesale discount of up to 50% and either resell them or consume them personally. Distributors are the core of the business model, providing one-on-one coaching and community support that Herbalife argues drives better customer retention than retail channels. A distinctive element of the model is the "Nutrition Club" — brick-and-mortar locations where distributors sell single-serving prepared products daily, creating a recurring consumption pattern. There are roughly 65,000 Nutrition Clubs globally, with heavy concentration in Latin America. Herbalife's profitability is driven by distributor volumes, periodic price increases to offset inflation and FX headwinds, and Member retention. The company manufactures roughly 46% of its inner nutrition products at its own facilities in the U.S. and China, with the remainder sourced from third-party manufacturers. Herbalife's growth strategy centers on three initiatives: Pro2col, a digital health platform providing personalized AI-driven wellness recommendations; Link BioSciences, a personalized supplement formulation business using individual biomarker data; and a shift toward subscription-based purchasing to build recurring revenue. These three initiatives are designed to work together — Pro2col captures health data, Link BioSciences uses that data to formulate personalized products, and subscriptions convert engagement into recurring revenue.