Amway India launches herbs range, expects Rs 125 crore revenue in 3 years
Direct selling Fast Moving Consumer Goods (FMCG) major Amway India has expanded its product portfolio with the launch a new range of Nutrilite traditional herbs range from which it expects to generate revenue of Rs 125 crore (approx $19.3 million).
Amway India had clocked Rs 1,800 crore (approx $ 276.5 million) in sales for the last financial year with a compounded annual growth rate (CAGR) of 6 percent. The company is targeting overall revenue of Rs 2000 crore (approx $307 million) in the current financial year.
The company’s Nutrilite products currently are the highest contributors to the revenue accounting 50 percent sales while the remaining 50 percent comes from its beauty and personal care segment.
"Our nutrition and wellness product portfolio has been enlarged with the launch of 'Nutrilite Traditional Herbs Range', backed by the best of nature and the best of science. The new range is targeted to yield a revenue of Rs 125 crore (approx $19.3 million) by 2020," Chandra Chakraborty, Regional Manager, Eastern Region, Amway India, was quoted as saying by a news agency PTI.
“Nutrilite from Amway has maintained the leadership position for past 5 years with 12 per cent market share in 2017”, he said.
The new Nutrilite range will have four natural products 4 made from traditional Indian herbs named Nutrilite Tulsi, Nutrilite Brahmi, Nutrilite Ashwagandha and Nutrilite Amalaki, Vibhitaki and Haritaki.
Amway India which is currently ranked seventh largest unit in global operations is planning to further expand its presence by opening up retail stores and improving its online network. The company currently has 140 retail stores in India and plans to add 25 more by the end of this year.
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