Business

Amway targets Rs. 1,000 cr. turnover by 2003

By Our Corporate Reporter

CHENNAI APRIL 10. Amway India Enterprises, a multi level marketing company and a wholly owned subsidiary of Amway Corporation of the U.S., has set a turnover target of Rs. 1,000 crores by August 2003. In the year ending August 2002, the company is expected to record a turnover of Rs. 700 crores, according to William S. Pinckney, managing director and chief executive officer.

Addressing presspersons here today, Mr. Pinckney said some of the attributes that led to this kind of growth were world class products, constant innovation and adaptation to the market needs and efficient customer services. He said Tamil Nadu had emerged among the top ten markets in India for Amway and there was good potential for a further growth in this state. Launching `Persona Talc' the latest offering from Amway India, Mr. Pinckney said the latest launch was in line with the company's two-tier marketing strategy, which consisted of bringing in Amway's global brands in the country on one hand and developing and launching brands especially for the Indian market on the other.

He said Amway was planning to open 14 new distribution centres by September catering to over 475 cities and towns.

The company, which launched operations in India in mid 1998, with just six products, has 33 products in its portfolio which comprises four categories — personal care, home care, nutrition & wellness category and cosmetics range.

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