The Hindu Business Line : Amway expects 5-8 pc rise in turnover

AMWAY India, the wholly owned subsidiary of the $5-billion Amway Corporation of the US, hopes to record a 5-8 per cent increase in its turnover during the year ended August 31.

In the 12-month period ended August 31, 2002 Amway India notched a turnover of Rs 626 crore, up from Rs 550 crore recorded during the previous 12 months.

Speaking to newspersons at the launch of Nutrilite Iron Folic, Mr William S. Pinckney, Managing Director and CEO of Amway India, said that the company would be "happy to maintain the growth in sales in a difficult market and perhaps be able to marginally better the sales over that last year''.

He added that the company has lined up "over 10 big ticket launches'' over the next 12 months. Other Nutrilite variants would also be launched.

According to him, Nutrilite is a $-1.4 billion global brand and the largest contributor to Amway's sales revenues.

In India, too, the nutrition and wellness category has emerged as the fastest growing category for the company.

The Nutrilite brand is expected to help Amway India generate Rs 200 crore in the next one year.

While Nutrilite Iron Folic would initially be imported, the product — priced at Rs 649 for a bottle containing 90 tablets — would be manufactured in India by Sai Mirra Pharmaceuticals of Chennai by the year-end.

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Amway expects 5-8 pc rise in turnover