By
Tricitynews
New Delhi 05th July:- Amway India, the country’s no.1 direct selling FMCG company, with ongoing
celebrations of successful completion of 20 years of business operations in
India, reiterated commitment to the market and announced its 2025 plans. The
company is bullish about the growth story
of India and aims to rank amongst top 3 markets for Amway globally with the
target revenue of INR 6000 crores by 2025.
Commenting on the 20 years of success, Anshu Budhraja -CEO - Amway
India, said that we are excited with the great business opportunity ahead of us
in India. Industry reports highlight the immense business potential of the
direct selling FMCG industry. The industry is expected to touch INR 65,000 Cr
by 2025, clocking an almost six-fold growth from its current size, while
providing entrepreneurship opportunities to more than 18 million people of
which 50% constitute women[i]. We have
registered a CAGR of 20 per cent over the last 20 years which is testimony to
the robustness of our business model and importance of the Indian market, which
ranks among the top markets for us. We are eyeing a three-fold growth in our
business by 2025, fueled by innovations and digital penetration along with our
strong direct sellers network and focus on engaging young consumers.
With the increasing demand for the Vitamins and Dietary Supplements(VDS)*
which has a current market size of INR 8400 crore and is poised to grow at 10%
in the next 5 years. Currently the Indian market only comprises of 2-3% share
of the global market which offers immense growth potential. Amway shared a
clear path towards its target 2025. Nutrition and Wellness being the biggest
revenue driver, Amway is aiming to double the revenue of the category by 2025.
The company is bullish about the robust growth prospects of the nutraceutical
industry.
Buoyed by the success of recently launched Nutrilite traditional herbs
range, which is expected to cross INR 100 crores mark in sales by end of the
year, the company is celebrating the success of its top selling products that
are in the INR 100 crores club in India including Nutrilite All Plant Protein
Powder, Nutrilite Daily, Amway Queen cookware and Glister toothpaste.
Adding to its innovative and high-quality offerings in India, Amway plans
to soon launch its latest innovations with the focus on herbal in the beauty
and personal care category. Amway is also making a major push into consumer
durables and announced the entry into air purification business category.
Amway plans to invest around INR 100 crores over the next 2-3 years in
India, which includes INR 70 crores investment in R&D, INR 10 crores in
manufacturing and INR 20-30 crores in digital initiatives. While the R&D
investments will be focused on building research capabilities to enhance
product innovation pipeline across categories, the manufacturing investments
will be channelized towards digitization, automation and power optimization in
the manufacturing facility. Amway India has made significant investments to enhance its digital presence through
its online store and mobile app. The company will continue its focus on digital
tools to enhance customer experience and benefit its strong sales force of
Amway direct sellers.
Amway has also invested INR 600 crores in a world-class manufacturing
facility in Madurai, Tamil Nadu, as part of the INR 1000 crores investment plan
in India. As part of its customer outreach and engagement plan, a significant
portion of the investment is committed to launching Amway XPP stores in India.
The company will be adding 25 more Xpress Pick and Pay (XPP) stores across
India during 2018.