Alticor is a privately owned American corporation which is run by the DeVos family and the Van Andel family. It was established in 1999 to serve as the parent company for a handful of business ventures, most notably the multi-level marketing company Amway and Amway Global, and a manufacturing and distribution company, Access Business Group. In 2006, Alticor purchased cosmetics maker Gurwitch Products from Neiman Marcus Group Inc. and operated it as a wholly owned subsidiary until Gurwitch was acquired by Shiseido in 2016.
Here are some highlights from a piece written by Ryan Luke for the blog ¨Arrest your debt¨ in which among other things questions if Amway owned by Alticolor is a legitimate opportunity and if they benefit from clients considering that some people insist that it is a total fraud.
Amway was formed when its owners decided to begin their own multilevel marketing company. They left Nutrilite and formed Amway, which is short for American Way.
Amway often fails to inform would-be associates that much of their sales come from selling to their distributors rather than actual customers. In addition, many of the sales to distributors are not even products, but rather seminars and other materials on how to get rich quick.
It is possible to make money from Amway – just ask the founders, who have made a literal fortune. However, it is very rare for regular Amway business owners to even break even.
In some ways, Amway is a legitimate business. In other ways, it is not. Although Amway is not an illegal pyramid scheme, it comes dangerously close to the line.
Amway products are expensive because the company wants to make more money. The amount paid to distributors is a pittance compared to what most stores must pay in overhead and employees.