Amway to buy organic farms in India

Written by Sunny Verma | Los Angeles | Updated: Aug 23 2011, 08:50am hrs
Amway India, a dietary supplements, health and beauty company, plans to buy organic farms in India. It has already taken some farms on contract basis.

The company, a wholly owned subsidiary of its $10-billion US-based parent Amway, is also considering to set up its manufacturing facility in India at an estimated investment of R250 crore. At present, it manufactures its products through third party contracts, barring its super premium range of cosmetics.

We have targeted a turnover of R2,500 crore by 2012. A core team is evaluating the possibilities of setting up an own manufacturing facility at an investment of R250-300 crore, said Amway India MD & CEO William S Pinckney.

When asked whether Amway would like to buy farms in India, Pinckney said: Absolutely. It is in line with our seed-to-supplement philosophy. Nutrilite's philosophy is to evaluate organic farm opportunity across the globe.

The company currently generates more than 50% of its revenues from its nutritional supplements brand Nutrilite. Outside of the US, Amway has organic farms in Brazil and Mexico. In the years to come, some farms in Asia China and India could also be added to the list of organic farms, he said.

(The travel for the report was sponsored by Amway)