The Economic Times:
Direct selling fast moving consumer goods (FMCG) company Amway India has scaled down its business growth projections 25 per cent in 2009, as against the 40 per cent growth it registered in 2008, a top company official said here Monday.
“The current year’s targeted growth rate is an optimistic figure in the FMCG segment given the general slowdown in the economy,” William S Pinckney, company managing director and chief executive told reporters here.
According to him, Amway’s focus is on improving the consumer access and the first step towards online sales by revamping its website.
Broadly, the Rs 1,128-crore Amway India operates in four categories – nutrition, cosmetics, personal care and homecare.
Pinckney also said Amway planned to add about 100,000 direct sellers, adding: “People who have lost their jobs owing to the economic slowdown can consider taking up our distributorship. Nearly 60 per cent of the direct sellers stay with the company.”
Logo from Amway India