Direct selling FMCG company, Amway India, is eyeing a Rs 2,500 crore turnover in the next two-years by expanding reach, launching new products and strengthening its marketing.
"We have grown from Rs 799 crore to Rs 1,128 crore to 1,407 crore over the past three years, essentially as the quality of the Amway pick-up centres has undergone a sea change and are more experiential for the consumer," Amway India's Vice-President (Technical and Regulatory), Vinay Kumar, told reporters here.
"This year the turnover is expected to be around Rs 1,700 crore and Rs 2,500 crore by 2012," he said.
Amway India is a wholly-owned subsidiary of $8.2 billion US-based Amway Corporation. The company manufactures its products through seven third-party contract manufacturers in the country with Baddi-based Sarvotham Care being Amway India's largest vendor (contract manufacturer).
Around 85 per cent of Amway products sold in India are being manufactured by Sarvotham Care.
The company is mulling to set up a new contract manufacturing facility in south India to cater to the demand of its products in the coming days.
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"Our products are more in demand in South India. We are thinking of setting up a new contract manufacturing facility in south India, but nothing has been finalised," Kumar said.
The company plans to up its branches to 250 from present 130 in the next three years. "We will increase our branches to 250 from the present 130 across the country by 2013. We are eyeing an at least 25 per cent year-on-year growth for the next five years," he said.
The company offers 123 products in personal care, home care, nutrition and wellness, cosmetics and great value products.
"We are planning to launch 12 new products in 2011 and 10 products in 2012. We also plan to increase the number of brand experience centres to 25 from the present 10 over the next two years," he said.
Stating that the direct selling industry has good potential in the country, Kumar said, "Direct selling industry in the country is estimated at Rs 3,500 crore (excluding insurance) and is expected to reach around Rs 5,300 crore by 2013.