Amway India targets Rs 3000 cr turnover

Written by Agencies | Baddi, (HP), July 6: | Updated: Jul 6 2008, 18:03pm hrs
Direct selling FMCG firm Amway India is eyeing close to four-fold topline growth in the next five years to Rs 3,000 crore 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 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.