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QNet expects Rs 700 cr turnover from India in 2018-19

Business Finance

Press Trust of India  |  Penang/New Delhi 

Asian direct selling company QNet expects a turnover of more than Rs 700 crore from India in 2018-19 and hopes to gain traction on the back of its renewed focus on health and wellness products.

"QNet has a renewed focus on the health and wellness category and this will lead the growth for the company in India. We are hoping to generate a turnover of over Rs 700 crore from India market during 2018-19," QNet Regional Director (South Asia) Rishi Chandiok told PTI in Penang during the company's annual global convention last month.

He said the company's success in India is because of the level of investment compared to other (direct marketing) companies.

The Hong Kong-based direct selling company, which began its Indian operations in 2011 through its sub-franchisee Vihaan Direct Selling Pvt Ltd Co, was mired in controversy earlier this year in an alleged case of cheating which was reported to the police in Telangana.

Chandiok said the company will remain invested in India despite the police case that was registered in Telangana in January this year.

"Negative things do not deter us. A prominent auto company, they left India. We are not planning to leave India. We are planning with our efforts of increasing our assets, our ability and our exposure in India," Chandiok said during the interview.

Giving details about company's progress in the last few years in India, he said that QNet earned revenues of Rs 530 crore in 2015-16 followed by a dip to Rs 427 crore in 2016-17 but again got back to Rs 627 crore in 2017-18.

"Our target is growth definitely, but also sustainability. We are more than confident that if our distributors have the ability to sell, they will," he said further.

The company said it will have a renewed focus on the health and wellness category in India and its premium CHAIROS 'Signature' watch category launched in April.

It already has a strategic tie-up with Sharp Business Systems for two models of room air purifiers and with Kent RO Systems for alkaline water producing RO system.

The company will also launch two new health supplements by the end of this month and a new range of premium personal care products for women later in September.

QNet said it has nearly 600,000 customers and distributors in India.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Sun, May 05 2019. 15:25 IST