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Amway India to set up Rs 500cr plant in Tamil Nadu
Direct selling FMCG company Amway India today said it is setting up an over Rs 500-crore greenfield manufacturing facility at Nilakottai in southern Tamil Nadu.
Land had been acquired for the project and is expected to be launched by 'mid-2015' at Nilakottai in Dindigul district, and a memorandum of understanding has been signed with the state government. The company is awaiting the single-window clearance for the project.
The company has invested over Rs 500 crore on the project, Amway India Managing Director and CEO William Scott Pinckney said here.
Speaking to reporters here during the launch of the company's new health range products for women, he said Amway is targeting"net sales revenue of USD 1 billion in India by 2020".
"It (the unit) is about capacity enhancement to cater to the USD 1 billion market by 2020 and it will make health and beauty products," he said.
In 2012, Amway India clocked a turnover of Rs 2,288 crore, the company said.
It announced the launch of three products under its flagship 'Nutrilite' category. Nutrilite Hair, Skin and Nails, Nutrilite Tri-Iron and Folic and Nutrilite Black Cohosh and Soy, aimed at different health segments ranging from hair care to "overall well-being" of women during menopause, the company said.
These will be available to consumers by this month end or beginning of March, it added.
Land had been acquired for the project and is expected to be launched by 'mid-2015' at Nilakottai in Dindigul district, and a memorandum of understanding has been signed with the state government. The company is awaiting the single-window clearance for the project.
The company has invested over Rs 500 crore on the project, Amway India Managing Director and CEO William Scott Pinckney said here.
"It (the unit) is about capacity enhancement to cater to the USD 1 billion market by 2020 and it will make health and beauty products," he said.
In 2012, Amway India clocked a turnover of Rs 2,288 crore, the company said.
It announced the launch of three products under its flagship 'Nutrilite' category. Nutrilite Hair, Skin and Nails, Nutrilite Tri-Iron and Folic and Nutrilite Black Cohosh and Soy, aimed at different health segments ranging from hair care to "overall well-being" of women during menopause, the company said.
These will be available to consumers by this month end or beginning of March, it added.
Amway launches new products under brand Nutrilite
Amway India has launched a new range of products in the women’s healthcare category under its nutrition products brand Nutrilite.
The product range includes Nutrilite Hair, Skin and Nails; Nutrilite Tri-iron and Folic; and Nutrilite Black Cohosh and Soy.
For Amway India, wholly-owned subsidiary of Amway Corporation of the US, and one of the largest direct selling companies in India, more than 57 per cent of the revenue comes from this nutrition and healthcare brand, while the rest comes from homecare and personal care products.
William Scott Pinckney, Managing Director and CEO, Amway India, said nutrition products is the fastest growing category for the company. This is followed by beauty care products which last year grew by 25 per cent. Amway closed the calendar year 2012 with a turnover of Rs 2,300 crore.
The company expects Rs 40 crore sales from the new range of women’s healthcare products.
In another development, Amway withdrew its ‘XL’ energy drink from the market due to the product’s short shelf life. According to Pinckney, the energy drink launched in PET bottles had a shelf life of three months, and the company found it difficult to supply the product across the country from its plant in Baddi in Himachal Pradesh and maintain proper inventory because of this. Amway is now going back to the drawing board and trying to figure out how to change the packaging and market it again.
Responding to a question on the company’s proposed plant near Chennai, Pinckney said it has got all necessary approvals two weeks ago, and work should start before mid-March. “We are given a three-year window to complete the project,” he said.
The company recently signed an MoU with the Tamil Nadu Government for setting up a greenfieldfacility at Nilakkottai in Dindigul district. It has been allotted 49 acres there to put up the facility at an estimated investment of Rs 500 crore.
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