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Amway India eyes Rs 2,500 cr turnover by 2012

Amway India eyes Rs 2,500 cr turnover by 2012
PTI
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First Published: Tue, Nov 30 2010. 10 12 AM IST
Updated: Tue, Nov 30 2010. 10 12 AM IST
Baddi (HP): Direct selling FMCG company, Amway India, is eyeing a Rs 2,500 crore turnover in the next two-years by expanding reach, launching new products and strengthening its marketing.
“We have grown from Rs 799 crore to Rs 1,128 crore to 1,407 crore over the past three years, essentially as the quality of the Amway pick-up centres has undergone a sea change and are more experiential for the consumer,” Amway India’s vice-president (Technical and Regulatory), Vinay Kumar, told reporters here.
“This year the turnover is expected to be around Rs 1,700 crore and Rs 2,500 crore by 2012,” he said.
Amway India is a wholly-owned subsidiary of $8.2 billion US-based Amway Corporation. The company manufactures its products through seven third-party contract manufacturers in the country with Baddi-based Sarvotham Care being Amway India’s largest vendor (contract manufacturer).
Around 85% of Amway products sold in India are being manufactured by Sarvotham Care.
The company is mulling to set up a new contract manufacturing facility in south India to cater to the demand of its products in the coming days.
“Our products are more in demand in South India. We are thinking of setting up a new contract manufacturing facility in south India, but nothing has been finalised,” Kumar said.
The company plans to up its branches to 250 from present 130 in the next three years. “We will increase our branches to 250 from the present 130 across the country by 2013. We are eyeing an at least 255 year-on-year growth for the next five years,” he said.
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First Published: Tue, Nov 30 2010. 10 12 AM IST
More Topics: Amway India | FMCG | Products | Demand | South India |