Amway India on expansion mode
The company is looking at investing Rs 450 crore in the next two-three years in the Indian market
July 07, 2011 | comments ( 0 ) |
As part of the company's expansion plans, Amway India, the largest direct selling FMCG company is looking to invest Rs 450 crore in the next two-three years in India.
The strategy involves setting up a second manufacturing plant, adding more touch-points as well as brand experience centres. Mr William S. Pinckney, Managing Director and CEO, Amway India said the company has registered 17.5 per cent growth in the first five months of the calendar year, with the sales turnover touching Rs 838 crore. The company recorded a sales turnover of Rs 1,790 crore during January-December 2010.
According to Mr Pinckney, the expansion of the product basket in the health and beauty segment as well as on the infrastructure front by setting up new outlets, the launch of e-learning, a significant step towards education, knowledge updation and productivity enhancement of business owners, have contributed to robust growth in the current fiscal.
Almost 90 per cent of the products sold by Amway India are now manufactured in India by seven, third-party contract manufacturers. The company recently invested Rs 55 crore at its contract manufacturing plant in Baddi for expanding production. Currently, it has 130 products under its portfolio, excluding seasonal offerings. The company had invested more than Rs 200 crore in India and has over 135 offices and 55 city warehouses across the country, covering over 5,000 cities and towns through its home delivery network.
- Montblanc opens new boutique in Bangalore
- Milkbasket tops up its Series A with another $7 Million
- Lingerie e-tailer Clovia plans to open 75 stores by 2021-end
- Welspun group aims Rs 1,000 crore turnover from new flooring line
- Miniso eyes sourcing Indian products to Australia & US
- Trek Bicycles plans to expand retail stores across India
- Vision Express starts its 16th store in New Delhi
- BlueStone launches its first store in Mumbai
- Splash Fashions to expand its digital presence
- Toonz Retail opens store in Dwarka