Amway India to invest $71.7m on new production facility

Amway India, a direct selling FMCG firm, will be establishing a production facility in the country at Rs4bn ($71.7m) investment to manufacture nutrition and beauty products.

The firm has not yet revealed where it would set up the facility, which is expected to start its operations in the next two to three years, moneycontrol.com reported citing PTI.

Amway India MD and CEO William Pinckney said the firm was planning to set up a new facility, which will initially produce nutrition and beauty brands, and other products would be included later on.

"I am confident that we will achieve the target of Rs 2,500 crore overall turnover in 2012 due to our strong product categories. The company had registered a turnover of Rs 2,130 crore in 2011," Pinckney said.

Amway’s current products offered in India are manufactured within the country by seven different third-party contract manufacturers, all of which account for almost 97% of its products.

The company said it has set its sights on reaching top three markets in world for its parent company by 2020.

The company also announced a new brand logo for "Amway Home," representing the home care segment in line with its long term global marketing and business strategy.

The firm currently offers over 130 products in five categories -of personal care, home care, nutrition and wellness, cosmetics and great value products.

Amway India is a wholly-owned subsidiary of Amway , USA, which has its presence in 80 countries.