Amway India looks to tap tier 2, 3 markets with new products
US-based direct selling major Amway Inc is betting big on its personal care segment for growth in the Indian market and has expanded its portfolio with the addition of new products.
Amway India is looking to make deeper inroads in the lucrative health and hygiene segment with the launch of its new Persona handwash.
Commenting on the launch, Sundip Shah chief marketing officer at Amway India in a statement said, “There is an increasing awareness among people towards maintaining hygiene in general and specifically hand hygiene. There is a huge potential for growth in the category which has just 10 percent penetration in the country.”
“With the Amway direct sellers base, the company is aiming for a deeper product penetration especially in tier 2 and 3 cities,” Shah added.
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 7 percent. It expects to touch Rs 2,000 crore this fiscal.
Amway currently has 140 stores across the country and plans to open 500 stores in India by the year 2025.
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