CHENNAI: Amway India Enterprises, with its 12th year of business in India, is showing a consistent growth in its operations. In the year ended December 2009, it achieved a growth of 25 per cent in its net revenue at Rs. 1,407 crore.
Addressing presspersons here on Wednesday, William S. Pinckney, Managing Director and CEO, said in the first quarter of the current year the growth was 32 per cent with the net revenue at Rs. 435.35 crore against Rs. 330.40 crore in the year-ago period. The focus on business excellence, consumer experience, distributor experience and products and brands were the drivers of growth. For the current year, the aim was to reach a turnover of Rs. 1,750 crore, he said. Mr. Pinckney, who was here to inaugurate the company's ninth health and beauty brand assessment centre in India, said Amway had invested Rs. 151 crore in India so far with Rs. 26 crore in the form of foreign direct investment. Citing a study, Mr. Pinckney said the compounded annual growth rate (CAGR) for direct selling industry in India was 12.5 per cent and the size was Rs. 3,330 crore. South India was a big market followed by north, he said. The company would focus on nutrition and beauty products which were in great demand.