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| Amway to set up manufacturing unit in J&K in next three years | | | Early Times Report
JAMMU, Apr 26: Upbeat over 26 per cent growth in revenues from Jammu and Kashmir in 2011, FMCG company Amway India today said it will set up a manufacturing unit at a cost of Rs 400-500 crore in the state in the next 2-3 years. "By next two to three years, a manufacturing unit would be set up in Jammu and Kashmir as business is growing here," Vice-President (North), Amway India, Bhuvan Kapur told reporters here today.
The company will invest Rs 400-500 crore in this regard and it will need the facility in next two to three years in view of growth of products here, he said. Amway Indian Enterprises, the country's largest direct selling FMCG company, recorded 26 per cent growth in the state in 2011 with a sale of Rs 14.5 crore, he said. While J&K continued to be one of the fastest growing states for Amway, the company clocked a turnover of Rs 2,130 crore nationally thus registering a growth of 19 per cent in 2011, over the previous fiscal (2010) when a recorded a turnover of Rs 1,790 crore, he said. Kapur said, "The double digit growth for the last four years is buoyed by the launch of products in the lead categories of health and beauty, penetration of products in semi urban and rural markets of the state and the tremendous effort put by the distributors.''
"Our advertising in and e-commerce initiatives have also led to enhanced visibility of the Amway brand and in contributing to a healthy growth". Early this year, Amway launched a range of Lifestyle Nutritional Supplements designed to promote healthy ageing under its global vitamin and dietary supplement brand Nutrilite, Kapur said.
"Under its new range the company had launched Nutrilite Glucose Health- for maintaining healthy blood sugar level and Nutrilite Milk Thistle with Dandelion Root for overall liver health," he said.
In 2011, the company strengthened our Nutrilite Kids' Range by launching six new products with an aim to cater to the nutritional needs of the children and capture a greater pie of Nutrition and Wellness Market, he said.
Nutrilite contributes over 50 per cent of our turnover. The contribution of our flagship brand Nutrilite grew from Rs 903 crore in 2010 to Rs 1,106 crore in 2011, he said.
"We are quite hopeful that the entry into healthy ageing category would help propel our turnover to Rs 2500 crore by 2012," he added.
Amway reaches out to 13 towns and 32 pin codes in the state through its home-delivery network, he said adding that taxes paid by Amway to the state exchequer Rs 1.46 crore for the year 2011. |
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