Amway India, a subsidiary of the US-based world's one of the largest direct selling companies, has said the company is confident of registering robust growth in the current year despite the global financial crisis.
The $7.2 billion company further said that it was finalising an expansion plan to attain a turnover of Rs 2,500 crore by 2012.
"So far, there has been no impact on us from the ongoing crisis and we are confident to grow at least by 25 per cent and cross Rs 1,000 crore turnover mark by 2008-end. We have already crossed Rs 900 crore in sales till now," Amway India Managing Director and Chief Executive William S Pinckney told visiting journalists to the main manufacturing plant in India.
Pinckney said the company's business model was "recession resilient", though the company had drawn some strategies to combat the threat of slowing demand.
The company is close to finalising an expansion plan, which would augment the manufacturing capability and spread its reach in order to achieve the growth roadmap.
Moreover, the vision was shared by the main contract manufacturer Sarvottam Care CEO N Jayakumar and said his company would continue to invest in manufacturing capability in line with the Amway's vision despite costlier credit and threat of demand slowdown.
"I was indicated to enhance the capacity by additional 200 per cent of current level by 2015 and we would go ahead as per their projections. As per estimates, the company would need to invest another Rs 50 crore," Jayakumar said.
Sarvottam Care caters almost 80 per cent of Amway India's requirement.
