Direct selling FMCG company Amway India today said it will set up a manufacturing facility in India at an investment of Rs 400 crore to produce nutrition and beauty brands.
"We will set up a manufacturing facility at an investment of Rs 400 crore. The plant will initially produce nutrition and beauty brands. Later it can be expanded to make other products," Amway India MD and CEO William S Pinckney told reporters today.
He, however, did not specify where the facility would be set up though the plant could be operational in the next two to three years.
Currently, almost 97 per cent of the products sold in India by Amway are manufactured within the country by seven different third-party contract manufacturers.
The company today announced a new brand logo for "Amway Home", representing the home care segment in line with its long term global marketing and business strategy.
Amway Home contributes nearly 7% of the company's revenues in India. Pinckney said the company expects a substantial growth from the home care segment.
"I am confident that we will achieve the target of Rs 2,500 crore overall turnover in 2012 due to our strong product categories. The company had registered a turnover of Rs 2,130 crore in 2011," he added.
On being asked about the future plans of the company, Pinckney said: "At present we are seventh largest affiliate in the world. By 2020 we will be top three markets in the world for Amway".
At present, Amway India offers over 130 products in five categories -- personal care, home care, nutrition and wellness, cosmetics and great value products.
Amway India is a wholly-owned subsidiary of $10.9 billion Amway Corporation, USA, a $10.9 billion direct selling company with presence in 80 countries,