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Amway India eyeing 
25 Billion turnover by 2012
Monday, 01 December 2008, 18:57 IST
Baddi (Himachal Pradesh): Describing its business model as "recession resilient", fast-moving consumer goods (FMCG) major Amway India Enterprises Sunday expressed confidence that its turnover would reach 
25 billion by 2012 from the present 10 billion.
"We are targeting a turnover of 25 billion by 2012, for which we have to achieve a year-on-year growth of 25 percent every year," Amway India managing director and chief executive William S. Pinckney told reporters.
The company has set a target of reaching 10 billion in 2008. Till November, it has already achieved 9 billion and is confident of reaching the target, Pinckney said.
Amway India is a wholly-owned subsidiary of the $7.2-billion Amway Corp of the US.
In India, Amway sells 109 products across four segments - home care, personal care, nutrition and wellness category and cosmetics category.
Almost all Amway India products are manufactured in the country through seven third-party contract manufacturers.
Asked whether the global economic downturn would impact the product selling, Pinckney said: "I don't see it affecting our operations because even if there is a downturn, people will still need a toothpaste or a detergent."
"We are looking at expansion and will increase our offices in India from the present 127 to 300 in the next five years," he added.
N. Jayakumar, chief executive of Sarvodham Care, the largest contract manufacturer of Amway products in India said: "There are indications from Amway India that we might have to ramp up production by another 200 percent by 2015 for an investment of around 500 million to cater to the increasing demand".
Earlier in the month, Amway India relaunched its portal to facilitate online order placement.
Eastern India contributes around 22 percent of the total sales of the company.
Source: IANS
25 billion by 2012 from the present 10 billion.
"We are targeting a turnover of 25 billion by 2012, for which we have to achieve a year-on-year growth of 25 percent every year," Amway India managing director and chief executive William S. Pinckney told reporters.
The company has set a target of reaching 10 billion in 2008. Till November, it has already achieved 9 billion and is confident of reaching the target, Pinckney said.
Amway India is a wholly-owned subsidiary of the $7.2-billion Amway Corp of the US.
In India, Amway sells 109 products across four segments - home care, personal care, nutrition and wellness category and cosmetics category.
Almost all Amway India products are manufactured in the country through seven third-party contract manufacturers.
Asked whether the global economic downturn would impact the product selling, Pinckney said: "I don't see it affecting our operations because even if there is a downturn, people will still need a toothpaste or a detergent."
"We are looking at expansion and will increase our offices in India from the present 127 to 300 in the next five years," he added.
N. Jayakumar, chief executive of Sarvodham Care, the largest contract manufacturer of Amway products in India said: "There are indications from Amway India that we might have to ramp up production by another 200 percent by 2015 for an investment of around 500 million to cater to the increasing demand".
Earlier in the month, Amway India relaunched its portal to facilitate online order placement.
Eastern India contributes around 22 percent of the total sales of the company.
Source: IANS