Amway India aims to become Rs 1000 cr company by 2010
Kolkata, May 2 (UNI) Continuing all round growth, Amway India, the leading direct selling FMCG company, is aiming at becoming a Rs 1000 crore company by 2010 by recording thirty per cent annual growth since its inception in 1998-99.
Amway's Director (Distributor Relations and Marketing) Stephen Beddoe said the company has lined up a number of new products to consolidate its position as a leading health and beauty company.
Outlining the company's plans, Mr Beddoe said besides setting an annual target of over 35 per cent they had drawn up an aggresive strategy to drive growth.
"We will launch seven more new products between now and December 2006 and plan to grow our distributor base by at least 20 per cent," he said.
In addition to these, the company plans to strengthen the home delivery network and take the total reach to over 2500 cities and towns by the end of the fiscal year.
Amway India's turnover increased from Rs 91 crores in 98-99 to Rs 633 crores in 2004-05.
He said Amway India currently offer 70 products in four categories --personal care, home care, nutrition and wellness and cosmetics.
Referring to the future plans of Amway India, he said the launch of male grooming range "Dynamite" has lent versatility to the Amway bouquet of products.
He said in the past 12-months, Amway India conducted over 29,000 training sessions across the country with an attendance of over 1.3 million Amway Business, Owners and prospects.
On the occasion, Mr Beddoe launched "positrim," Amway's weight management product. Positrim is a nutritionally balanced meal replacement low fat drink.
The wholly owned subsidiary of US 6.4 billion Altricor Inc., Ada, Michigan, USA, one of the largest Direct Selling companies in the world, Amway has 48 offices and 49 city warehouses across the contry and covers over 2,000 cities and towns through its distribution and home delivery network set up with the support of independent logistics partners.
Amway India currently has over 4,50,000 active Amway business owners. Almost 85 per cent of the products sold by Amway India are now manufactured within the country through third-party contract manufacturers.
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