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| Amway targets Rs 1400 cr turnover |
| TE Narasimhan / Chennai Feb 16, 2009, 00:52 IST |
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Amway India, a direct selling FMCG company, is planning to close the current calendar year with a turnover of around Rs 1,400 crore from Rs 1,128 crore registered in 2008.
To achieve this, the company would double its distributors to 750,000 over the next two years besides launching 5-6 products, said Amway India’s vice-president Anshu Budhraja. At the same time, it would increase the price of its products by 5-7 per cent.
Among the growth drivers, the nutrition and wellness business contributed around Rs 500-600 crore to the total turnover last year. To strengthen this business, the company would introduce four products, he said. The beauty segment was the second major driver for growth contributing around Rs 200 crore last year.
Speaking about the investment plan, Budhraja said so far Amway had invested around Rs 150 crore, of which Rs 26 crore was in the form of direct foreign investment. The company is planning to invest around Rs 13 crore in 2009 mainly for advertising purposes.
Besides, to attract distributors, Amway has brought down the joining fee to Rs 995 from Rs 4,400. Product pricing, which used to be around Rs 3,000, too has been removed, he said.
As part of its rural foray, the company has launched APSA 80, an agri product that acts like a spreader, and would add two more soon.
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