Direct selling FMCG company Amway India is targeting a net sales of $one billion by 2022.
Speaking at the launch of the Dynamite range of products for men, Mr Sujay Bose, Associate Vice-President (South), Amway India said that the company’s turnover in 2012 touched Rs 2288 cr, which was 7 per cent higher than the earlier year’s tally of Rs 2130 cr.
The revenue generation from its ecommerce portal in 2012 stood at Rs 626 cr, he added.
On the roll out of men’s grooming product range, he said ‘global research agency – Euromonitor has estimated the market size for such products at around Rs 3800 cr and expected to cross the Rs 5200 cr mark in a span of three years.’
Shivkumar, Area Manager for Tamil Nadu and Pondicherry said that Coimbatore was the second biggest market for the company and growing at 15 per cent over the State’s growth.
‘We have 23 offices and 6 warehouses in Tamil Nadu,’ he said.
On the company’s manufacturing plant at Nilakottai in Dindigul District, Mr Bose said the plant is likely to be commissioned ahead of schedule by end 2014.
The company had committed to invest Rs 460 cr towards construction and development of this plant in Dindigul district. It is spread over a 50 acre plot with nine production lines including nutrition, personal care and cosmetics.