American Direct selling company, Amway is eyeing its flagship brand Nutrilite to achieve the target of Rs 2,500 crore from sales by 2012-end in India. Said William S Pinckney, Amway India Managing Director and Chief Executive Officer, “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.”
The company said the brand currently contributes around Rs 900 crore to its overall sales. Globally, the brand is worth around $3.2 billion (Rs 14,450 crore).
Pinckney said while the company expects its overall sales to grow at around 18 percent, the nutritional business is likely to grow by 25 percent annually in India.
At present, nutrition and wellness category contributes around 50 percent to its total sales in India. Last year, it had a turnover of Rs 1,790 crore.
Reveals Deepali Shukla, Amway India Assistant Vice-President (Marketing and National Head for Wellness), “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.”
Currently, Nutrilite is the leading brand, with a share of around 19 percent in the around Rs 2,500-crore Indian dietary supplementary market. The other leading brands are from Dabur, Néstle and GlaxoSmithkline Consumer Healthcare.
Source: Press Trust of India