Amway to set up R&D Centre for health, beauty
segments
:
CHANDIGARH: Direct selling major Amway India said it will open research and development
centre soon for making India specific products, including ayurvedic, organic in
health and beauty segments.
"We
will open R&D centre in India. The focus of (R&D) will be on
opportunities in India and on exactly types of things, whether on ayurvedic
products or organic products or other products that work for India.
"Our
focus is on India and globally is on health and beauty categories...we see
there is a lot of potential for these categories," Amway India MD and CEO William S Pinckney told reporters here on the sidelines of
opening of company's touch point here.
"A
team from US will visit India February next year which will see where to open
R&D centre and how big it will be," he
added.
The company's healthcare and beauty
segment out of four segments have grown sharply on the back of product's
growing acceptability in the country as these segments alone contributes 55 per
cent of company's total sales which is expected to touch Rs 2,400 crore by
2012.
The company's upcoming new plant at
Tamilnadu will also primarily manufacture healthcare and beauty products to
cater to the growing demand, he said.
"After setting up of new
facility, health, wellness and beauty products will shift down to Tamilnadu
while our contract manufacturers will produce homecare and personal care
products," he said.
Amway India will set up its own
manufacturing facility at Tamilnadu with an outlay of Rs 550 crore and it will
be commissioned by 2015.
He said the company hopes to achieve
sales of Rs 2,400 crore by 2012 with a growth rate of 10 per cent over turnover
of last fiscal.
"The growth in sales is
migrating across the country. At present east and west are high growth rates
for the company," he said.
PTI Nov
23, 2012
http://articles.economictimes.indiatimes.com/2012-11-23/news/35317524_1_r-d-centre-amway-india-md-william-s-pinckney
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