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Amway has entered the men’s skin whitening product space and launched a new cream developed specially for the Indian market, among other products under its Dynamite brand of grooming products for men.
Unveiling the new and refurbished Dynamite range Ajay Khanna, Associate V-P, (Personal and Home Care), Amway India, said that the market in India for men’s grooming products, currently estimated to be Rs 3,800 crore, was expected to touch Rs 5,270 crore by 2016.
“The skin care segment of personal products (for men) is growing at CAGR of 25 per cent,” he said, adding that the skin whitening cream was being launched for the first time by Amway. With a market size pegged at around Rs 300 crore annually, Amway had a target of Rs 75 crore in sales from it in the next four years, he said.
Meanwhile, Amway has begun work on building a new plant at Nilakottai in Tamil Nadu that involves an investment of Rs 460 crore and is expected to go on stream in the middle of 2015. This is the American direct selling FMCG company’s second manufacturing facility after China, outside of the US.
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