New Delhi: With Indians growing more beauty conscious, beauty products and direct-selling company Oriflame India is planning to double its product portfolio to over 800 this fiscal and aims to treble its Indian business in the next five years.
“The fact that India is a fast-growing market for us exhorts us to launch 400 new products this year,” Oriflame India managing director Fredrik Widell said.
Widell said Oriflame’s Indian business is growing by about 40% each year and the company hopes to treble its business here in the next four-five years.
To a query on India’s share in Oriflame’s international business, he said, “Asia has 7% market share in Oriflame’s international business and India holds an important position in it.”
Direct selling is a method whereby a network of consumers of a company’s products recommend the products to others, thus helping the company save on advertising costs, a portion which is distributed among consultants.
Currently, Oriflame’s plants are situated in Sweden, Poland, China, Russia and India and the company sells its products in 61 countries worldwide.