Amway plans to invest Rs 170 crore to strengthen presence in India
Direct selling FMCG firm Amway India plans to strengthen its presence in the Indian market and earmarked an investment of Rs 170 crore ($23.3 million) over the next three years.
The company will invest the funds to boost its research and development (R&D), manufacturing automation, and innovation.
Amway expects strong growth going forward on the back of its investment coupled with diversification of its portfolio.
“Amway has earmarked an investment of Rs 170 crore for the next 2-3 years in India. This amount will be used to boost R&D, manufacturing automation, innovation and science, and home delivery as well as to strengthen our digital capabilities to ensure efficient functioning,” Amway India CEO Anshu Budhraja told PTI.
“Amway’s growth will be fuelled by key levers that include increasing awareness around nutrition and immunity, accelerated digital adoption, and a robust supply chain with seamless last-mile delivery. We are looking at multiple innovative solutions such as strengthening the existing portfolio, developing new products in the traditional herb’s category, looking at options in affordable supplementation space and new formats,” Budhraja added.
Amway India had reported sales of Rs 1,800 crore for the last financial year. It is aiming to reach sales of over Rs 2,000 crore for the current financial year.
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