“It was not a strategic acquisition and it would not affect the company’s operations in anyway other than perhaps providing good returns to the stockholders” he said.
As regards the Indian operations, Mr Choudhury said the company plans to introduce nutrition supplements in the domestic market soon. At present, only weight management products are available in the country. Besides weight management, the Herbalife portfolio includes nutrition and personalcare products.
“We plan to introduce nutrition supplements that would complement our existing products. There would be a couple of high-protein low carbohydrate products ranging from soups and snacks to chocolate that would be introduced by the end of this year’’, he said.
India has been identified by Herballife as one of the three key focus areas besides China and Japan, Mr Choudhury said. The company has presence in 54 countries across the world. In India, the company has direct operations in 10 states which would be expanded to 23 by 2003, he added.
Herbalife, with 22,000 direct distributors across the country, has posted a turnover of Rs 176 crore in 2000-2001. The Nasdaq listed company which has not yet announced its 2001-2002 results is expecting a growth of about 7-10 per cent in India. The Indian operations has targeted a 15 to 20 per cent growth in the 2002-2003 financial year.