FMCG firm Amway today said it expects its flagship nutritional brand 'Nutrilite' to achieve sales of Rs 2,500 crore in India by 2012-end on the back of the new product ranges.
"Nutrilite will easily cross Rs 1,000 crore by the end of this year. With the launch of the new products, we are targeting sales of Rs 2,500 crore from the brand by 2012," Amway India Managing Director and Chief Executive Officer William S Pinckney said.
The company, which today announced its entry into the kids nutritional category by launching five products under Nutrilite, said the brand currently contributes around Rs 900 crore to its overall sales. Globally, the brand is worth around $3.2 billion (Rs 14,450 crore).
Pinckney said while the company expects its overall sales to grow at around 18%, the nutritional business is likely to grow by 25% annually in India.
At present, nutrition and wellness category contributes around 50% to its total sales in India. Last year, it had a turnover of Rs 1,790 crore.
"In the first year of introducing our kids range, we expect sales of Rs 50 crore coming from the segment...As we go forward, we will introduce more products under the kids range," Amway India Assistant Vice-President (Marketing and National Head for Wellness) Deepali Shukla said.
Currently, Nutrilite is the leading brand, with a share of around 19% in the around Rs 2,500-crore Indian dietary supplementary market.
The other leading brands are from Dabur, Nestle and GlaxoSmithkline Consumer Healthcare.
