Qnet is a direct selling multi level marketing company which is known by various names like GoldQuest, QuestNet and QI Limited. The company is basically based in Hong Kong and is founded by Vijay Eswaran who is a Malaysian businessman in year 2008. The main objective of the company in early days was the direct selling of products like weight managet, personal care, fashion products, energy and home care products online through e-commerce platform. But slowly slowly the company turned out to a big scam by making many frauds to its customers and members.
Various questions might be comeing into your mind like What is Qnet. What are Qnet products What are its scames. Whether we shoudl Connected to it or not. So here we are going to give answers to many such question. Lets have a look at these various factors.
Qnet started its operation in 1998 in Hong Kong. The founders of Qnet are Vijay Esarvana and Joseph Bismarck. Before its name Qnet, the company was also called as GoldQuest and QuestNet.
Qnet was the coin distributor of the 2000, 2004 and 2008 Olympic games. In year 2000, Qnet was the main distributor. Along with this, Qnet Coin has also been a distributor at the 2002 FIFA World Cup which gave Qnet the status of a license distributor in 89 countries.
Qnet was also the sponsor of the Asian Football Confederation in 2009 and as a result of the Qnet’s sales grown by over 70% between 2007 and 2012.
Qnet MLM Business Plan
Qnet operates in many countries as an MLM and direct selling company. In which people have to buy Qnet products and sell them to their circle or to other people. All those people who sell the product come to the network under the person who connects and sells product and they get more profit by selling their products.
However, Qnet is not really the right MLM company. First of all, the price of the product of Qnet has been kept very high. At least more than 70,000 rupees have to be paid to join Qnet and to take the product.
Qnet describes itself as an MLM and E-commerce company, so it is most important to look at its product. Initially Qnet was a distributor of gold and silver coins after that Qnet worked on jewelry.
In 2006, Qnet ran a business of health and nutritional products. Qnet then sold a number of products such as beauty Products, Home Appliances and many more to its distributors. Qnet also purchased a number of resorts and a telecommunication company called QI Comm during this period.
The price of the product of Qnet is seen to be very high and the quality of the product is not correct according to the price. Therefore MLM business cannot be done with Qnet depending on the product.
Qnet is present in more than 30 countries including Saudi Arabia, Turkey, Thailand, Malaysia, UAE. However, India has the highest number of people joining Qnet.
Qnet has also sponsored IIFA Awards in India, which is its old way of marketing. Qnet has also been the main sponsor of Goa FC. It was due to these sponsorship that Qnet started spreading in India.
Many cases are running in Court on Qnet in India, where the Bombay High Court has declared Qnet as a fraud scheme, in which the money of the people is circulated and people are fooled.
The highest number of cases against Qnet have been registered in Hyderabad, Bangalore and Pune. It is now known in India as the Qnet Scam. Yet the government has not yet completely banned Qnet. But on court order, CERT has blocked 4 sites of Qnet in India.
The main Franchies of Qnet are Vihaan Direct Selling Private Limited in India. Against which people have complained.
The truth of Qnet Scam
First of all, let us say that Qnet is a pyramid scheme. They have kept the product only to declare themselves as MLM companies, which are not worth so much as they demand.
So Qnet in the name of MLM but it is not less than Scam. Due to which people have lost their trust from MLM schemes also. Any company that is taking a lot more money than the actual price of the product, then its definitely a pyramid and ponzi scheme.
Qnet have looted Crores of Rupees of innocent people in India itself.