Amway targets aggressive growth in the country

Riding high on its wellness products such as Nutralite, which accounts for 60 per cent of its business, Amway India Enterprises is targeting a 22 percent growth in 2010 after the Rs. 1,407-crore turnover it had clocked in 2009. By 2012, it hopes to touch Rs. 2,500 crore. The company at present offers 115 products and is planning a couple of new product additions. William S. Pinckney, Managing Director and CEO, Amway India, said, “Amway India might hire consultants to examine its options on setting up a plant in India. Amway has tripled production capacities at its leading vendor facility (Baddi, Himachal Pradesh) by commissioning four new production lines”. In tune with its plans to increase production capacity, Amway is also planning to increase its current ad spend of Rs. 25 crore by around 30 percent. It has also set up nine brand-experience centers with another 20 in the pipeline. Amway’s investment in India is around Rs. 151 crore, which is likely to see a substantial jump by 2012-13. Almost 85 per cent of the products now sold in India are manufactured here through seven third-party contract manufacturers.