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QNET
QNet
Company typewholly owned subsidiary
IndustryConsumer goods
FoundedHong Kong, 1998
FounderVijay Eswaran
Websitewww.qnet.net

QNet ltd, formerly known as QuestNet, GoldQuest, and QI Limited, is a Hong Kong based direct selling company owned by the QI Group. The company sells a variety of products including energy, weight management, nutrition, personal care, home care, luxury goods, and fashion accessories. QNet was founded in Hong Kong by Vijay Eswaran in 1998.

The company's marketing strategy follows a multi-level marketing model, depending on independent representatives to refer its products to consumers and receive compensation based on the sales volume of their referrals and the sales volume of other independent representatives in their teams who are arranged in a binary fashion.

QNet is a member in the Direct Selling Association of Malaysia, Philippines and Singapore. It has offices in some Asian countries such as Indonesia, Philippines, United Arab Emirates, Thailand, Taiwan and Vietnam and franchise companies in India and Turkey and it also operates or has operated in other countries such as Saudi Arabia, Egypt, Côte d'Ivoire and Rwanda.


History

QNet is the main subsidiary of the QI Group and was founded in Hong Kong by Vijay Eswaran in 1998. The company was first known as GoldQuest and made custom-commissioned numismatic coins. It first diversified in 2002, into travel and vacations, with a partnership with QVI Club brand holidays. In 2005, QI Group acquired QI Comm, a British telecommunications company In 2006, it began marketing energy, health, and nutritional products, and also the Bernhard H. Mayer brand of watches. That same year, QI Group acquired Prana Resorts and Spa, a vegetarian holiday resort in Koh Samui. In 2007, the QI Group acquired Down To Earth (DTE), a vegetarian organic health store chain in Hawaii.

Between 2007 and 2012, QI Group direct sales increased by 70%.

In 2013, Qnet announced its intention to shift its manufacturing operations to India and to open an office in Russia.

Business model

A typical MLM binary tree structure. The blue individual will receive compensation from the sales of the downline red members.

The company's marketing strategy is based on a multi-level marketing model which depends on a group of independent representatives who refer its products to consumers and receive compensation based on the sales volume of their referrals and the sales volume of other independent representatives in their teams who are arranged in a binary fashion.

The compensation plan operates by the referral of products by existing IRs. An IR is provided an ID that gives access to a 'Tracking Centre' (TC) in its system that tracks sales. A TC has a left and right customer group. A 'direct' transaction (a customer's personal reference or sale) is counted as one transaction. An 'indirect transaction (someone in the customer's TC buys/refers/sells) is also counted as 1 transaction. the company pays $250 each time 3 product sales on an IR's left customer group are matched by 3 product sales on the right. The Company operates with highest level of integrity and under laws of the respective country. Income taxes are paid out on the income of IRs.

QNet is a member of the direct selling association of Malaysia, the direct selling association of Singapore, the Hong Kong Health Food Association, and the Health Supplements Industry Association of Singapore.

Products

QNet mainly markets products made by other subsidiary companies of QI Group. The products are in travel packages, nutrition, personal care, home care, collectibles, fashion accessories and education.

The Amezcua Bio Disc (also spelled BioDisc and BioDisk) is one of the company's products. QNet claims that the Bio Disc can "redefine and harmonise the energy of water, greatly maximising its positive affect on the human body".

Controversies

Donald Frazier, a writer for Forbes who focuses on Asian businesses, stated in 2012 that the charges against Qnet "tend to originate in apocryphal, anonymous or debunked sources".

GoldQuest disputed Iran's findings, claiming that their Iranian operations were not a pyramid scheme, but network marketing.

See also

Network Marketing companies

References

  1. "All Products". QNet. Retrieved 17 December 2011.
  2. "Direct Selling Association of the Philippines - Directory". Direct Selling Association of the Philippines. Retrieved July 21, 2013.
  3. ^ "Members List". Direct Selling Association of Malaysia. Retrieved November 12, 2011.
  4. ^ "List Of All Members". Dsas.org.sg. Retrieved November 12, 2011.
  5. "Worldwide Offices". Qnet. Retrieved December 16, 2011.
  6. Times Reporter (6 Oct 2013). ""e-Commerce platform opens in Rwanda"". The Sunday Times. Retrieved 29 Oct 2013.
  7. Ted Nuyten (28 Aug 2013). "QNET Expands Into Vietnam". Business For Home. Retrieved 29 Oct 2013.
  8. ^ Donald Frazier (5 Nov 2013). "Selling a Better Life". Forbes Asia. Retrieved 4 Oct 2013.
  9. ^ "GoldQuest". Quest International Holding. Retrieved April 11, 2012.
  10. ^ "QNet Timeline". QNet. Retrieved 5 Oct 2013.
  11. "QI's Prana Resorts & Spa rebrands and expands". QI Group. 6 July 2012. Retrieved 6 Oct 2013.
  12. "Organic Health Food Supermarket Chain". QI. Retrieved August 11, 2012.
  13. "Organic and Natural". Down to Earth. Retrieved October 13, 2012.
  14. Mihir Mishra (13 May 2013). "QNet plans to set up production base in India". The Indian Express. Retrieved 6 Oct 2013.
  15. "QNET Will open a representative office in Russia". Sostav. 25 Oct 2013. Retrieved 29 Oct 2013.
  16. "Direct selling - How does it work". Qnet. Retrieved 18 April 2013.
  17. "Members". Hong Kong Health Food Association. Retrieved 1 Nov 2013.
  18. "HSIAS Current Members". Health Supplements Industry Association of Singapore. Retrieved 1 Nov 2013.
  19. "Products for Life". QNet. Retrieved May 6, 2013.
  20. "Bio Disc 2 (product description)". QNet. Retrieved 11 November 2011.
  21. Donald Frazier. "Followup on the News: Internet Spat Breaks Out over Qnet and Multi-level Marketing in india". Forbes. Retrieved February 3, 2013.
  22. "The Pyramidal Mirage". Press TV Global News. 17 July 2010. Retrieved 6 Oct 2013.
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