Amway India News
Amway India targets Rs 3000cr turnover by 2013
- Details
- Published on Thursday, 10 July 2008 00:00
- Written by Amway Watch
Direct selling giant Amway India is eyeing close to four-fold topline growth in the next five years to Rs 3,000 crore (US$690 million) by expanding reach, widening product basket and strengthening marketing activity.
Amway India, a wholly-owned subsidiary of the US-based Alticor, had recorded Rs 800 crore turnover in 2007 and expects it to go up to Rs 1,000 crore this year, company's Managing Director and Chief Executive Officer William Pinckney told reporters.
Amway India, a wholly-owned subsidiary of the US-based Alticor, had recorded Rs 800 crore turnover in 2007 and expects it to go up to Rs 1,000 crore this year, company's Managing Director and Chief Executive Officer William Pinckney told reporters here.
In its first year of operation in 1998, the company's turnover was only Rs 91 crore.
Pinckney said Amway India plans to increase the number of branch offices to 300 in the next three years across the country from 120 now.
Amway India sells over 100 products in five categories of personal care, home care, nutrition and wellness and cosmetics.
Pinckney said that the company would bring in more products in the existing categories.
Nutrition and wellness contributes to around 50 per cent of the company's turnover, cosmetics 20 per cent and the rest from personal and home care divisions with equal contributions.
"I don't think that there will be significant change in contribution from these divisions as we clock a turnover of Rs 3,000 crore by 2013," Pinckney said.
Nutrition and wellness will be the main focus of the company, he added.
Amway India does not have any manufacturing facility of its own in India. It outsources products from contract manufacturers.
Almost 80 per cent of its products are manufactured by Sarvotham Care in its Baddi facility.
Pinckney said Amway India does not have plans to put up its own manufacturing facility as well in the near term, but may consider one in future.
The company has 4.5 lakh direct selling agents (DSAs). Pinckney said Amway India targets to increase the number by at least 10 per cent within this year.
"Getting DSAs is not a difficult task these days since people want to earn and spend more. Amway provides them better platform," he said.
The company would also be launching an e-commerce portal to reach out to customers who are working and do not wish to meet DSAs.
