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Amway plans to invest Rs 170 cr over 2-3 years in India
Direct selling FMCG firm Amway India plans to invest Rs 170 crore in the next 2-3 years in the country to boost research and development (R&D), manufacturing automation and innovation. The company also plans to strengthen its nutrition portfolio, which accounts for over 60 per cent of its revenue, by exploring adjacent and expanded spaces around the nutrition segment.
"Amway has earmarked an investment of Rs 170 crore for the next 2-3 years in India.
"This amount will be used to boost R&D, manufacturing automation, innovation and science, and home delivery as well as to strengthen our digital capabilities to ensure efficient functioning," Amway India CEO Anshu Budhraja told PTI.
Budhraja said that moving forward in 2021, Amway's growth will be fuelled by key levers that include increasing awareness around nutrition and immunity, accelerated digital adoption and a robust supply chain with seamless last-mile delivery.
"The year 2021 will witness a strong pipeline of innovative product launches including an advanced version of the foundation range of supplements, newer formats of products that are more engaging and appealing to youth and much more.
"We will further strengthen the segment with a huge focus on the herbal category, while also developing affordable herbal nutrition supplementation," he added.
Amway India's nutrition portfolio registered a double-digit growth contributing over 61 per cent to the company''s business revenue in 2020. Out of the total 140 products in India, Amway has about 42 products in the nutrition portfolio.
"With continued demand for nutrition and immunity supplements, we are expanding our nutrition portfolio catering to the evolving consumer demands.
"We are looking at multiple innovative solutions such as strengthening the existing portfolio, developing new products in the traditional herb's category, looking at options in affordable supplementation space and new formats," Budhraja said.
The company is also exploring adjacent and expanded spaces around the nutrition segment.
Recently, Amway India launched Nutrilite Vitamin C Cherry Plus tablets, intended for people with weakened immunity.
Earlier this year, Amway India also made a foray into a new category with the launch of Chyawanprash by Nutrilite to strengthen the immunity supporting portfolio.
Budhraja said that this year, Amway India will also focus on developing affordable traditional herbs nutrition solutions and expanding the kid's nutrition portfolio.
"We are working towards strategic partnerships with leading brands aiming to offer the best of products and solutions to its discerning consumers like the strategic partnership the company entered with ITC in 2020," he added.
In 2020, ITC and Amway India entered into a strategic partnership to jointly distribute a range of products in the health and immunity-boosting space.