Amway to widen product basket

Direct selling FMCG major Amway India Enterprises is planning to widen its product basket by launching 3-4 new products every year. As part of its expansion plan, the company will open 175 new branches across the country by the end of 2012. The FMCG major also aims to achieve a turnover of Rs 2,500 crore by 2010.

“Amway India launched almost 20 new products taking total number of products to 100 last year. The company is planning to launch 3-4 new products every year. By the end of the current year, the company will launch 2-3 new products. The company is also planning to open 175 new branches across the country by 2012,” a company executive, who does not want to be identified told Business Standard.

At present, Amway India has 100 products in four categories, personal care, home care , nutrition and & wellness and cosmetics. The company has 125 offices, 55 city warehouses and four regional mother warehouses across the country. The company’s distribution and home delivery network is set up with the support of independent logistics partners spread across over 3,000 locations.

“The company posted around nine-fold growth in sales in the last 10 years on its high quality products as well as the customers’ confidence in the brand. It also registered a rise of 8.40 per cent to Rs 800 crore in the financial year 2007 as against Rs 738 crore in the previous year. Amway has set sales turnover target of Rs 1,000 crore for the current calendar year and is eyeing to touch Rs 2,500 crore mark by December 2010,” he said.