Company will open 50 retail amway store in India by end of this year


Amway India intention is to open 50 retail Amway store across the country by the end of the year 2018. The purpose of this company is to speed up the global business model of direct and online sales. Also, it shows the importance of the company to Asia’s third largest economy. The local unit of Amway Corp has invested more than Rs 1,000 crore in India. In the company’s global sales operations, it will be the first significant presence of the company’s traditional stores, whose purpose is to increase access to the consumer and to provide platforms for direct products to consumers and distributors.

However, direct sales to the company will remain the main functioning of the country. In the category of some of the company’s products, India is included in the list of Top 10 Global Markets. During Calendar Year 2016, sales of Amway India amounted to Rs. 1,700 crore. The President of Amway, Deveos told ET on his two-day visit to India, “We are a direct selling network marketing company and the fire will remain.” However, our easy and easy access is an important part of our growth strategies. We have taken several initiatives to promote growth in India.

In the wake of the spectacular growth prospects of direct selling of consumer products in India, Amway’s focus is on increasing the presence of its brand in the country. According to FICCI-KPMG estimates, by 2025, the direct selling industry can reach Rs 64,500 crore by 2025, which is currently about Rs 8,000 crore. Amway India has 32 ‘Express Pick and Pay’ stores already so far. The company believes that through this, the company can extend its campaign of Global Growth. Divos told ET, “We are positive about our future in India and we believe that strong growth will continue in 2017 and beyond.”

In its previous results in 2015, Amway announced a 12 percent fall in global sales to $ 9.5 billion. The loss of revenue in China and the downturn in foreign currency caused the loss to the company. However, Amway India had said that in the top 20 markets in 2015, the company’s sales increased by 70 percent, so there is no slowdown in the sales.

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