The world’s biggest direct sales company Amway Cosmetics is set to invest in the Indian market over the next five years, thanks to the significant progress witnessed in the country in regulation and growth.
Amway is set to invest Rs 1,000 crore over this period, boosting manufacturing facilities, suggesting that the potential of the market is ‘dramatic.’ The company will push forward in India – which was in its top ten markets in 2015 – with local leadership from Anshu Budhraja, giving it an eye on the ground,
Amway Global President Doug DeVos told The Economic Times, “Local leadership always works better since they know the market, work better with governments and understand the culture. We always had succession planning on our mind and things have moved significantly over the past one year.
“There are not many places that are seeing good economic development like in India. Potential of the Indian market is dramatic. Markets like Thailand and Taiwan don’t have the upside potential of a market like India with over a billion people.”
The company, which produces Satinque shampoo and Glister toothpaste, will continue with its aim to create country-specific products and develop its ability to source locally, where it has already spent more than 30 percent of its $335 million allocated to expand in the country.