Yesterday Company Amway has said that it is planning to make an investment of about Rs. 250cr to set up a manufacturing plant in India. Amway India is a secondary of $9.2bn Amway Corporation USA. It comes in the list of one of largest direct selling FMCG (fast moving consumer goods) company. It has made its branch in 88 countries and territories.
Amway India Enterprises has said that it is targeting 22% growth in the year 2010. Amway India Enterprises is producer of the popular brand Nutralite in India. It has several wellness products in its product line. Nutralite is holding around 60% of the business of Amway India Enterprises.
As per the Amway officials the company is targeting to touch a turnover of Rs. 2,500 crore by the year 2012. In the year 2009, it was reported to be Rs. 1,407-crore. For 2010, Amway India Enterprises is looking for a turnover growth of at least 22%.
Amway India, one of the country’s biggest selling fast moving consumer goods companies has set itself an ambitious aim of a 22 percent rate of growth for this year. The previous year the brand had filed revenues of around Rs.1400 crore.
William S Pinckney, CEO and MD of Amway India said that they have improved and increased their revenues to Rs 1407 crore mainly due to the ‘Amway pick up centers’ which underwent lots of changes. He also claims that the feature that allows customers to buy products online and the advertisements on television gave the brand a facelift on a large scale.
Amway, a global leader in multilevel marketing, plans to invest nearly Rs 185 crore in India over the next two-three years, to buy space for its headquarters in the National Capital Region (NCR).
Sources reported that the company is presently in talks with various developers and looking at an area with sizes varying between 30,000 sq ft and 50,000 sq ft in Delhi, Gurgaon and Noida.