Amway eyes Rs 2,500 crore turnover in 2012

CHANDIGARH: Direct selling major Amway India today said it is eyeing total turnover of Rs 2,500 crore in 2012, up by 17 per cent over last year's sales as it will continue to focus on health and beauty segment to propel its sales.

"We are aiming at total turnover of Rs 2,500 crore in 2012," said company's Vice President Bhuvan Kapoor here today.

The company clocked sales of Rs 2,130 crore in 2011 and Rs 1,790 crore in 2010.

"Our strategy to maintain the growth momentum is by launching more products through direct selling, while at the same time going and competing in the Fast Moving Consumer Goods ( FMCG) space. This year, we are launching a new range of nutritional supplements to promote healthy ageing category," said Kapur.

Besides, Amway also said that it would invest a sum of Rs 400 crore to set up its own manufacturing facility in next two years, though Kapur refused to divulge about the location of the facility.

"The location for new facility is still not finalized," he said.

Recently, Amway tripled production capacities at its leading vendor facility at Baddi in Himachal Pradesh by commissioning four new production lines at an investment of Rs 55 crore.

Amway does not have its own production facility in India as it gets products through seven third party contract manufacturers.