Amway to launch 4 more products in India
Jul 29 2009 , New Delhi
“This year, the company has set a target of Rs 1450 crore. Amway India would be doubling its manufacturing ca-pacity at its plant at Baddi,” Yoginder Singh, vice-president of legal and corporate affairs of Amway India, told Financial Chronicle. “At present, our manufac-turing capacity can cater to Rs 1500 crore turnover with two shifts running. We will add a new bay this year in our plant.”
In India, the company has 109 products in its portfolio and 450 products worldwide. The company will be launching three to four new products this year in India.
With the festival season coming up shortly, the company plans to tie up with some leading brands for its upcoming catalogue. “We have not yet finalised who we would tie up with yet, but it will be some retail lifestyle brand. We would be doaing two catalogues this year unlike in the past when we did only one,” Singh added.
Globally, the company clocked a turn over of $8.2 billion last year.
India figures in the top 10 markets for Amway worldwide. The company has around 500,000 re-gistered individuals se-lling its products in India.
Amway plans to stick to the direct-selling mode as a part of the company’s philosophy and policy. Although the company has set up experience centres to build more consumer connect, the company does not have the ownership of the plant in Baddi, but works in a contract manufacturing arrangement. In the future, the company plans to set up its own plant in India. Earlier, Amway chairman Steve Van Andel had said that he wants to see India in the top five overseas markets of the company over the next five years.