Amway scales down growth target for 2009February 23rd, 2009 - 4:50 pm ICT by IANS
Chennai Feb 23 (IANS) Direct selling fast moving consumer goods (FMCG) company Amway India has scaled down its business growth projections 25 percent in 2009, as against the 40 percent growth it registered in 2008, a top company official said here Monday.
“The current year’s targeted growth rate is an optimistic figure in the FMCG segment given the general slowdown in the economy,” William S. Pinckney, company managing director and chief executive told reporters here.
According to him, Amway’s focus is on improving the consumer access and the first step towards online sales by revamping its website.
Broadly, the Rs.11.28-billion (Rs.1,128-crore) Amway India operates in four categories - nutrition, cosmetics, personal care and homecare.
Pinckney also said Amway planned to add about 100,000 direct sellers, adding: “People who have lost their jobs owing to the economic slowdown can consider taking up our distributorship. Nearly 60 percent of the direct sellers stay with the company.”
Amway India intends to spend around Rs.160 million (Rs.16 crore) this calendar year on promotion.
“The purpose of our advertisement is to build corporate brand awareness so that the distributor’s job is made a bit easier. The television campaign that we started last year will run till 2010, then we will decide whether to consider it further,” said Pinckney.
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