Amway to invest Rs 250 crore in India
Direct selling FMCG (fast moving consumer goods) company Amway on Wednesday said it plans to invest about Rs 250 crore to set up a manufacturing plant in India.business Updated: Apr 13, 2011 16:48 IST
Direct selling FMCG (fast moving consumer goods) company Amway on Wednesday said it plans to invest about Rs 250 crore to set up a manufacturing plant in India.
William S Pinckney, Amway India managing director and chief executive officer, said work on the proposed plant should start next year and will be completed by 2013 although the location has not yet been finalised.
"The investment could be between Rs 200-250 crore," he told reporters after inaugurating the company's health and beauty brand experience centre Bhubaneswar.
Almost 90% of the products sold by Amway India are now manufactured within the country through seven third-party manufacturers.
Pinckney said that Amway India recorded a sales turnover of Rs 1,790 crore in 2010 growing at 27% over 2010.
"This is the third successive year that we have registered growths upwards of 25 percent," he said.
The company he said set up 14 new Amway touch points and five new brand experience centres in 2010.
"We will expand our infrastructure to about 250 touch points and set up another 25 such brand experience centres over the next 2-3 years," he said.
Amway India is a wholly subsidiary of $9.2 billion Amway Corporation USA, one of the largest direct selling companies in the world. It has a presence in 88 countries and territories.