Amway eyeing Rs 1,400 crore revenue

Nov 19, 2009

Country’s largest direct selling FMCG company Amway India is eyeing revenues of Rs 1,400 crore in this fiscal, up from Rs 1,130 crore last year, reports Business Standard.

“We plan to become a Rs 2,500 crore company by 2012 and hope to round off this financial year ending December 2009 with revenues of Rs 1,400 crore,” Amway vice president (north) Bhuvan Kapur was quoted as saying.

Last year, the direct selling market in India was estimated at Rs 3,330 crore, which is likely to touch Rs 5,500 crore by 2012-13, according to an Ernst & Young study commissioned by Indian Direct Selling Association (IDSA). It is a founder member of IDSA, which has 15 major direct selling firms operating in the country.

Amway, which commenced India operations in 1999, is currently selling 110 products in four categories, including nutrition and wellness, beauty, personal care and home, the report added.

It is wholly owned subsidiary of US-based $6.3 billion direct selling FMCG major. Amway has a nation-wide presence with 130 distribution centres in metro and semi urban cities, it said.