Amway India eyes Rs.25 billion business by 2012July 11th, 2011 - 6:44 pm ICT by IANS
Agartala, July 11 (IANS) Consumer and home products direct marketing company Amway India, a wholly-owned subsidiary of the US-based Amway Corp, expects to do business worth Rs.25 billion in India by 2012, an official said here Monday.
“After starting commercial operations in 1998 with a business of Rs.9.1 million, Amway has invested more than Rs.2 billion in India,” company vice-president (East) Diptarag Bhattacharjee told reporters.
Amway India posted a turnover of Rs.1,790 crore last year - up from Rs.1,407 crore in 2009.
“We now hope to take the business to Rs.20 billion by this year (2011),” he said.
Amway India has over 135 offices and 55 city warehouses across the country, covering over 5,000 cities and towns through its home delivery network.
Bhattacharjee said that almost all the 130 Amway products in four categories are manufactured in India through seven third-party contract manufacturers with production facilities conforming to international standards.
The four categories of Amway products include nutrition and wellness, cosmetics, personal care and home care.
The company recently invested Rs.55 crore at its contract manufacturing plant at Baddi in Himachal Pradesh for expanding production.
In the eastern region, comprising eight northeastern states, West Bengal, Bihar, and Orissa, the company has registered a 23 percent growth in the first six months of 2011 compared to the like period of last year (2010).
According to him, the largest number of Amway product users in India were in the northeast.
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- Amway looks at Rs.10 bn turnover in India this year - Nov 07, 2008
- Amway to invest Rs.250 crore in India - Apr 13, 2011
- Amway eyeing annual sales of Rs.2,500 crore by 2012 - Jun 22, 2010
- India is a fast-growing market for consumer goods: Amway (Lead, Correcting surname) - Mar 23, 2010
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- Amway to invest Rs.550 mn in its Himachal plant - Sep 04, 2009
- Amway India eyeing Rs.25 bn turnover by 2012 - Nov 30, 2008
- L'Oreal to set up Rs.400 crore plant in Himachal - Jul 11, 2012
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