Eyes 25% y-o-y growth for the next five years
Amway India Enterprises Pvt Ltd, a major direct selling FMCG Company in the country, is planning to open 170 new branches across the country in the next three years (by the year 2013). The company is also eyeing 25 per cent year-on-year growth for the next five years.
Presently, the company has 130 branches across the country. The company offers 115 products in five categories- Personal care, Home care, Nutrition & Wellness, Cosmetics and Great Value products. Nutrition & Wellness segment contributes around 50 per cent of Amway India’s total turn over.
"With an aim to strengthen our network base, we are planning to increase the number of touch points (branches) upto 300, by adding 170 new branches across the country in the next two-three years. We are also planning to launch 6 to 8 new products every year," William S. Pinckney, MD & CEO, Amway India, said at a press conference during plant visit of reporters to its Baddi facility in Himachal Pradesh.
With an aim to meet the market demand, the company has just tripled the capacity at its contract manufacturing facility in Baddi (Himachal Pradesh) at an investment of Rs. 55 crore.
"Amway’s focus in the past 2-3 years was to improve consumer access and awareness, which paid off handsomely. We have grown from Rs. 799 crore in 2007 to Rs. 1407 in 2009 crore over the past three years, essentially as the quality of the Amway pick-up centres has undergone a sea change, and is more experiential for the consumers. We are eyeing 25 per cent year-on-year growth for the next five years," Pinckney said.