Vestige has started its operation in Nepal recently as Vestige Nepal.
What is Vestige?
Vestige Marketing Pvt. Ltd. is one of the top direct selling companies in India since 2004. It is one of the leading companies with a distributor base of more than 70 Lakhs. It is an ISO 9001-2015 certified Indian Company. The company does direct sales of a world-class extensive range of products across Health Care, Personal Care, Oral Care, Health Food, Agricultural, and Self Health Series Categories. Know more about Vestige here.
Is Network Marketing / MLM legal in Nepal?
No, it is not legal in Nepal. But direct selling business is legal in Nepal. Recently, after passing the bill of Direct Sales Networking Bill 2074 in the Nepalese Parliament, it has indeed become legal in Nepal. (Watch the video below for reference )
Vestige Nepal has grown many potential clients within a short period of time. It has been only six months since its establishment in Nepal. Its head office is located at Putalisadak, Kathmandu. It works on the concept of direct selling.
Vestige Marketing Plan is designed to be an equal business opportunity for all those who get associated with Vestige. The Marketing Plan ensures that you earn in proportion to the efforts you put in and provides benefits such as leadership bonuses and pool income. These incomes are further enhanced by combining the downline’s performances so that it is always beneficial to create more leaders in your group. As downline becomes successful, you become even more successful.
How can you benefit from Vestige?
Vestige’s earning mechanism claims to provide you with many benefits. You can be an entrepreneur without owning your own business. The company’s network marketing methodology provides benefit from “Your referrals and the referrals of your referrals”.
This can be summed up as “You can earn from your friends and friends of friends”. Being a vestige member also helps you earn commission and receive discounts.
Are there any other companies like Vestige Nepal operating in Nepal?
Network Marketing has been practiced in Nepal even before it was declared legal. Back then some companies from Nepal and India were running this business illegally in Nepal. However, since it was illegal, some of these businesses were also accused of cheating and fraud cases. Some of the recently opened companies are Auranto and Global Oriens Nepal.
What is causing Nepalese people fear to trust Network Marketing, Vestige Nepal or any other similar companies?
Citizens are still skeptical about Vestige Nepal and other similar network marketing businesses. The first and foremost reason is that this business carries a history of hiding an actual scam behind its business strategy. Later, these companies either collapsed or were banned. This caused people to lose their money as well as their trust for such types of companies.
In 2011, Nepal Government declared network marketing illegal due to the rise of scams and frauds.
In 2018, a company named IBOS Globe Marketing was held accused of duping people in the name of networking business. Likewise, another company named GoldQuest, too was found doing the same and thus was banned in 2003.
Another such scam was done by a company called Unity Life Insurance Network in 2003. It conducted network marketing hiding behind the banner of Insurance Company. Similarly, a company known as Herbo International Network was found guilty of running network marketing illegally. Recently, a company called Q Network was also held accused of illegitimately running network marketing business.
People don’t trust such companies easily. Another reason is, they believe something fishy is certainly hiding behind the sugar-coated words and attractive schemes these companies advertise.
Is Vestige Nepal attracting more people these days?
After legalizing network marketing, the Nepal Government has made it considerably easier for companies to run an MLM/Network Marketing company without any undercover. Significantly, Vestige Nepal has attracted many youngsters to be its registered members. The employed and unemployed youths are getting attracted to it for a medium of side income.
Vestige Nepal claims to have real success stories and an effective way of earning, which can attract many people. This might be true or not true. We cannot declare the extent though. Contrary to this, it has attracted many youths.
Therefore, we suggest everyone be more cautious, especially, before any monetary investments. The public has mixed opinions and reviews for such companies. Thus, doing proper research about the company is definitely a wise thing to do.
What is your judgement?
What do you think about Vestige Nepal and other networks alike? Please provide your thoughts in the comment section below. We would love to hear from you. Also, please read about our other article on business after the end of lockdown.
Watch the video here: