From Fitness to Smoothies, A TikTok Sales Phenomenon Stumbles
Whether they’re hawking supplements or skin care products, many direct sellers are in dire straits
Welcome to The Brink, where Bloomberg’s reporters bring you all the latest on the world of distressed debt, bankruptcies and corporate blowups as well as the businesses that dodged collapse. I’m Rachel Butt, a reporter in New York, where the pandemic bonanza for multilevel marketers seems to be over. We also have the latest on SPAC bankruptcies, Credit Suisse and Johnson & Johnson’s cancer lawsuits. Follow this link to subscribe. Send us feedback and tips at rbutt4@bloomberg.net or Tweet/DM to @rachel_butt.
Multilevel marketing companies have long attracted scrutiny from skeptics. Think Herbalife and its years-long battle with billionaire investor Bill Ackman.