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After Amway India chief executive Willima Pickney’s arrest on money laundering charges, the past two years have been tough for the company. Revenue dipped almost 20 per cent. Amway now aims to treble sales within the next 10 years. In an interaction with Arindam Majumder the company’s first Indian chief executive Anshu Budhraja shares plans of entering newer categories, opening stores, increasing digital presence and making India a manufacturing hub. Amway India plans to treble sales in a decade. That’s an ambitious target. What is the strategy. There is a huge potential for direct selling in India and it is yet to be exploited. India has always been a key market. We are among the top-10 markets for Amway globally. But, my target is to have India feature in the top-three in the next five years. We are going to enter newer product segments like consumer durables and plan to launch cookware range in India in 2017. New products in the nutrition and beauty category would also be launched. The company has planned digitally-enabled next-generation stores and is working with Microsoft for the project. The first such store would be launched in Bengaluru later this year. Personal care and nutrition & wellness have been the largest segments for you with about 70 per cent of revenue coming from these. Do you plan to enter newer segments. You are right. Nutrition & wellness and beauty are the two focus categories. However, I am open to entering newer categories and territories if we are convinced that the product will deliver value to the end consumer and is compatible for the direct-selling model. What is the company’s plan about new launches. What products are in the pipeline. We have robust plans for the Indian market. The launch of our manufacturing plant would give us further edge, as we would be able to make products on our own. Next year, we are looking at launching close to 10 new products. What are Amway’s plans of developing India as a manufacturing hub. We are focusing on implementing the best process as well as machinery to make high-quality and evolved products. We are keen on making the Indian manufacturing unit a regional export base in the near future. India has already been selected by our global research and development team. Source: www.business-standard.com
Shares in direct seller CVSL ($CVSL) have been higher of late as losses stem and the company gets the message out that they are turning the corner. I noticed them appear on my radar as an upside mover for Wednesday's action moving up 20%. Since the 4th of July shares are up 180%, moving from $1 per share to as high as the $2. 99 it hit during today's trading session. CVSL closed at $2. 53. This comes on the back of a clear market awareness campaign to get out and spread the word, attending conferences and issuing PR through a concentrated effort. It is working, but you must have revenue growth to move your valuation over the long term. It cannot be smoke and mirrors. CVSL engages in direct-selling business in the United States and internationally, and consolidates multiple brands under one public company roof, which is a cool idea. They pool a variety of popular product lines like hand-crafted baskets and products for the home, including pottery, cookware, wrought iron, and other home decor products division. They also have hand-crafted spices, home improvement and personal safety products for women. Not to mention nutritional supplements and skin care products, gourmet food products, stationery and paper products. and vinyl expressions for display on walls. They really run the gambit of direct sale product marketers. CVSL is not the first direct seller, looking back over popular Direct Sales success stories is Amway, Avon (AVP) , Herbalife (HLF) , Mary Kay and Tupperware (TUP) , and everyone of these surpassed multi-billions of dollars in sales as far back as... This market has grown exponentially and the use of Social Media has helped spread the word and validated many brands for the consumer over the last few years. I had never heard of CVSL until today, so we are looking at this together. I called the company media contact and sent a few emails trying to learn more about what they do and how they do it, but I'm sure they have busy days now as the stock price starts to settle in and capture market cap and volume as they pass through... I look forward to learning more about what they do and the longer-term plan, but this is a good start understanding how shares are trading and perusing the website researching the products they sell. Source: www.equities.com
NEW DELHI: Amway India CEO Anshu Budhraja says he wasn't worried when he was named the man in the hot seat at the direct selling agent-driven venture. After all, his predecessor and former boss William S Pinckney had been arrested for alleged violation of the Prize Chits and Money Circulation Schemes (Banning) Act. "Every industry faces challenges. we are no different from others, the only difference is in the last mile as we sell through agents. With concerns around Ponzi schemes, you do need safeguards against misuse," Budhraja told TOI in an interview. Having taken the controversy in his stride, the new CEO is now focusing on strengthening Amway's presence. The Indian arm of the American firm is slowly getting into the B2C. India will only be the second country after Thailand where the company will venture into this segment, but the focus will remain on agents, who will designate privileged customers. Although the programme is a few months away from its launch, the immediate focus is on Amway's first plant in the country, coming up in Madurai, which is expected to begin commercial operations from November. "We are reengineering the supply chain and everything will be sourced from India," says Budhraja, adding that it will also be a regional production hub of sorts. Currently, Amway depends on vendors within India to meet a bulk of its product requirements. While the current turnover is around Rs 2,000 crore, the plant has capacity to produce goods worth around $1 billion. The target is to treble the turnover to Rs 6,000 crore in the next 10 years, double the workforce in two years and increase the share of e-commerce from 30% at present to 50%. Starting with Bengaluru, it also plans to launch digital stores,... The other change, Budhraja said, is to increase the focus on the under-35 segments and enter new categories such as cookware focused at the upper end of the market. Source: timesofindia.indiatimes.com
After Amway India chief executive Willima Pickney's arrest on money laundering charges, the past two years have been tough for the company. Revenue dipped almost 20 per cent. Amway now aims to treble sales within the next 10 years. In an interaction
They pool a variety of popular product lines like hand-crafted baskets and products for the home, including pottery, cookware, wrought iron, and other home decor products division. They also have hand-crafted spices, of direct sale product
NEW DELHI: Amway India CEO Anshu Budhraja says he wasn't worried when he was named the man in the hot seat at the direct selling agent-driven venture. After all, his predecessor and former boss William S Pinckney had been arrested for alleged
Amway has dropped prices of its largest selling protein supplement Nutrilite by 10 per cent and is signing a brand ambassador both firsts. A new category of child nutrition products, global energy drink XS and home-tech cookware are in the works, he said.
Part of the Amway family of brands, this ultra-concentrated liquid detergent is our highest-scoring green detergent. It was particularly tough on grass and ring-around-the-collar stains in our tests. It's available through Amway dealers or on Amazon
“The strategy has been proven successful in the past year especially for Amway’s beauty and wellness products range,” it said. However, it noted that anticipatable risks in the near term included the impact of further weakening of the ringgit against ...
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