The Economic Times:
Describing its business model as “recession resilient”, fast-moving consumer goods (FMCG) major Amway India Enterprises Sunday expressed confidence that its turnover would reach Rs.25 billion by 2012 from the present Rs.10 billion.
“We are targeting a turnover of Rs.25 billion by 2012, for which we have to achieve a year-on-year growth of 25 percent every year,” Amway India managing director and chief executive William S. Pinckney told reporters.
The company has set a target of reaching Rs.10 billion in 2008. Till November, it has already achieved Rs.9 billion and is confident of reaching the target, Pinckney said.
Amway India is a wholly-owned subsidiary of the $7.2-billion Amway Corp of the US.
In India, Amway sells 109 products across four segments – home care, personal care, nutrition and wellness category and cosmetics category.
Logo from Amway India.