Hyderabad, Apr 13: Riding on the back of a diversified product portfolio, FMCG company Amway India Enterprises is eyeing a sales growth of around eight per cent this fiscal at Rs 670 crore, a senior company official said today. "We are targeting a growth of 5-8 per cent in our turnover in September-August 2002-03 from Rs 626 crore in the year ended September 2002 as we are going to add more products to our range. We will also open 75-100 offices every year," Amway India managing director and CEO, William S Pinckney told reporters here.
The company, which sells directly to customers, has 36 products and 48 offices in several cities.
He said the company would also increase its focus on outsourcing products from small units as part of strategy to indigenise.
Amway India has already started outsourcing 'nutrilite protein' powder from Hyderabad-based Sarvotham Care, he said, adding that "we plan to start indigenous manufacturing of remaining products under 'nutrilite' brand in India soon. We have identified Sai Mirra Pharmaceutical of Chennai as the new contract manufacturer".
The wholly-owned subsidiary of 5 bllion dollar US-based Amway Corporation, Amway India entered the country in 1995 and has invested Rs 151 crore in India of which Rs 26 crore is in the form of foreign direct investment.
Bureau Report