New Delhi: Sweden-based direct seller Oriflame is expecting India to be among its top two markets in next five years globally as the company is upbeat after the recent guidelines issued by the government for the sector.
Oriflame is expecting a sales turnover of around Rs1,500 crore in next four years and it believes that skin care and wellness would be its growth driver.
“We have been growing at 20% yearly and we expect to keep the same rate... We are already among five markets for Oriflame, we should be number two or number one market,” Oriflame senior director, regional marketing, South Asia Juan Carlos Posada told PTI. “For the next four years, we should be Rs1,500 crore.”
Oriflame India, which started operation in India in 1996, presently has turnover of around Rs1,000 crore. The company believes that India as a market has a huge potential and would penetrate at places in coming years with its focus on technology.
“India is a huge territory and with more accessible technology and our focus on digital, we will be able to penetrate many places where we are not present now,” Posada added.
The company presently offers a product range of over 400 and most of them are in cosmetics, personal healthcare and wellness.
“At least 36% of our revenue is coming from skin care, 22% from cosmetics and 10% from wellness,” he said.
Over expansion of product portfolio, Posada said, “We are clear on our focus, wide assortment in cosmetics products and wellness. More than a larger portfolio is a more advanced one. And we plan to wider our wellness portfolio, a category that we just introduced in 2015 with extremely good results.”
Oriflame, which has two manufacturing units in India, has a network of 2.5 lakh direct sellers in the country.