Global FMCG firm Amway on Tuesday said it aimed to achieve a sales turnover of Rs.2,500 crore by 2012 through its flagship nutritional brand ‘Nutrilite' and on the back of new product range. “Nutrilite will easily cross Rs.1,000 crore by the end of this year. With the launch of the new products, we are targeting sales of Rs.2,500 crore from the brand by 2012,'' Amway India Managing Director and CEO William S. Pinckney said.
The company, which announced its entry into the kids nutritional category by launching five products under Nutrilite, said the brand now contributes around Rs.900 crore to its overall sales. Globally, the brand is worth around $3.2 billion (Rs.14,450 crore).
Mr. Pinckney said that while the company expected its overall sales to grow at around 18 per cent, the nutritional business was likely to grow by 25 per cent annually in India. At present, nutrition and wellness category contributed around 50 per cent to its total sales in India. Last year, it had a turnover of Rs.1,790 crore.
“In the first year of introducing our kids range, we expect sales of Rs.50 crore coming from the segment. As we go forward, we will introduce more products under the kids range,'' Amway India Assistant Vice-President (Marketing and National Head for Wellness) Deepali Shukla said. At present, Nutrilite is the leading brand, with a share of around 19 per cent in the Indian dietary supplementary market.