Amway to invest Rs.250 crore in India (Lead)April 13th, 2011 - 5:46 pm ICT by IANS
Bhubaneswar, April 13 (IANS) Direct selling FMCG (fast moving consumer goods) company Amway Wednesday said it plans to invest about Rs.250 crore to set up a manufacturing plant in India.
William S. Pinckney, Amway India managing director and chief executive officer, said work on the proposed plant should start next year and will be completed by 2013 although the location has not yet been finalised.
“The investment could be between Rs.200-250 crore,” he told reporters after inaugurating the company’s health and beauty brand experience centre here.
Almost 90 percent of the products sold by Amway India are now manufactured within the country through seven third-party manufacturers.
Pinckney said Amway India recorded a sales turnover of Rs.1,790 crore in 2010 growing at 27 percent over the previous year.
“This is the third successive year that we have registered growths upwards of 25 percent,” he said.
The company he said set up 14 new Amway touch points and five new brand experience centres in 2010.
“We will expand our infrastructure to about 250 touch points and set up another 25 such brand experience centres over the next 2-3 years,” he said.
Amway India is a wholly subsidiary of $9.2 billion Amway Corporation USA, one of the largest direct selling companies in the world. It has a presence in 88 countries and territories.
- Amway to invest Rs.250 crore in India - Apr 13, 2011
- Amway India eyes Rs.25 billion business by 2012 - Jul 11, 2011
- Amway India grew 19 percent in 2011 - Mar 02, 2012
- Amway to commission its India manufacturing plant in 2014 - Feb 13, 2012
- Amway eyeing annual sales of Rs.2,500 crore by 2012 - Jun 22, 2010
- Amway to invest Rs.550 mn in its Himachal plant - Sep 04, 2009
- L'Oreal to set up Rs.400 crore plant in Himachal - Jul 11, 2012
- Amway scales down growth target for 2009 - Feb 23, 2009
- Emami to make Rs.1.25 billion capital expenditure - Aug 08, 2012
- Amway targets Rs.20 billion business in India by 2012 - Apr 20, 2010
- Hero to merge investment arm with self, invest Rs.2,575 crore - Jun 04, 2012
- Amway India eyeing Rs.25 bn turnover by 2012 - Nov 30, 2008
- ITC aims to create multiple Indian FMCG brands: Deveshwar - Jul 27, 2012
- Nestle India quarterly net profit up 26.7 percent - Apr 21, 2011
- Now test LG's products at its demonstration zones - Jul 28, 2011
Tags: 3 years, amway corporation, amway india, brand experience, chief executive officer, consumer goods company, corporation usa, crore, experience centre, health and beauty, managing director, manufacturing plant, moving consumer goods, party manufacturers, pinckney, previous year, rs 1, rs 200, rs 250, sales turnover