Amway India expects Rs 45 crore sales from herbal skincare by 2022
Amway sees huge potential for growth in the Indian market and is looking to tap the country’s booming beauty segment with its innovative herbal skincare products.
Amway has entered the herbal skincare segment in India in November last year with the introduction of its ‘Nutrilite’ herbal range of products.
“The Rs 2,000 crore herbal skincare market is growing at a double-digit rate and that this launch follows the introduction of the Nutrilite traditional herbal range of products in 2018. The company aims to garner sales of Rs 45 crore in the next three years,” company CEO, Anshu Budhraja, said in a statement.
Amway India had clocked Rs 1,800 crore ($276.5 million) in sales for the last financial year with a compounded annual growth rate of 6 percent.
"The Indian herbals segment offers a huge potential and we are focusing on tapping it by developing and introducing innovative and distinctive quality products with our existing categories. The launch of Attitude Be Bright Herbals is our latest innovation in the beauty segment that is set to revolutionise the market,” Budhraja added.
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