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Amway is going to invest ₹100 crore in India to push distribution efforts.
Amway is a US-based company that manufactures and sells health, beauty and homecare products through a multi-level marketing model.
The deets: the main aim is to expand distribution through direct sellers and kickstart physical stores. India is one of the three manufacturing hubs for the company and a key driver for its growth.
CEO and President of Amway Michael Nelson said, “India is a powerhouse of potential driven by its digitally empowered population, a dynamic and young workforce, and thriving gig economy.”
Zoom out: the company has been struggling to achieve profitability with its India business as total income grew a meagre 0.7% in FY24. In the past, the company had also been embroiled in regulatory tussles with the Enforcement Directorate.
However, the company wants to bolster local manufacturing and improve the numbers. Amway’s R&D facility in Tamil Nadu is part of the ‘Make in India’ initiative and has been instrumental in driving employment in the region. Riding on that optimism, it aims to make a turnaround in India.
