Amway aims to make India a major market with omni-channel approach
The U.S.-based multi-level health and beauty marketing company Amway aims to make India its third largest market in the next decade through pursuing an omni-channel approach.
In an interview with the Press Trust of India, Amway’s global COO, Michael J. Cazer revealed that the business has ambitious plans for India.
"India is already a key market, but holds a lot more potential to grow,” said Cazer. “We think it can become the third largest market for us in a decade.”
Cazer, who recently visited West Bengal for the first time, also discussed the business’ plans for a new e-commerce platform.
"The forthcoming e-commerce platform, part of the omni channel and digital strategy, will give an experience similar to e-tailers like Flipkart and Amazon," said Cazer.
The e-commerce platform is set to launch later this year while Amway also continues its direct selling model.
Amway launched its 'Attitude Be Bright Herbals' range in India earlier this year and is expecting to generate sales worth Rs 45 crore ($6.5 million) from its herbal beauty products by 2022, as India’s natural beauty market continues to grow. The brand is also looking to expand into Tier 2 and 3 markets in the country.
Amway India reported sales of Rs 1,800 crore for the last financial year with a compounded annual growth rate of seven percent. The business expects to reach sales of Rs 2,000 crore this financial year. The business currently has around 140 stores across India and plans to open 500 stores by 2025.
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