Financial Daily from THE HINDU group of publications
Friday, Feb 04, 2005
Financial Daily from THE HINDU group of publications Friday, Feb 04, 2005 |
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Marketing
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Direct Marketing Amway forays into premium skincare market Our Bureau
Bollywood actress Diya Mirza flanked by Mr William S. Pinckney (left), Managing Director & CEO, Amway India, and Mr Jim Payne, Senior Vice-President, Amway International, at the launch of skincare products in the Capital on Thursday. — Kamal Narang
New Delhi , Feb. 3 AMWAY India today announced its entry into the premium skincare market with the `Attitude' range, developed specifically for the Indian market. The company has an existing range of cosmetic products called `Artistry', but this is targeted at the super premium end of the Rs 1,850-crore domestic cosmetic market, and Amway says any overlap in the two ranges will be minimal. "Amway India has emerged as a leading player in the wellness industry and the launch of Attitude is a big step towards building our competencies in the cosmetic category," the Managing Director and CEO, Mr William S Pinckney, told newspersons here. Developed at the company's headquarters at Michigan, US, the Attitude range will comprise five product categories - cleanser, toner, moisturiser, face wash and sunscreen lotion. He said the brand would be manufactured and packaged in India at a contract facility in Hyderabad. Beginning with the skincare range, Attitude is expected to soon enter the colour cosmetic market as well. Amway India is a wholly owned subsidiary of the $6- billion Amway Corp, having launched commercial operations in 1998 in India. It offers 55 products, of which 85 per cent are manufactured in India through third party alliances. In 2003-04, the company recorded Rs 636 crore turnover, a 10 per cent growth over the previous fiscal. Mr Pinckney said the same growth rate should be sustained in the current fiscal as well.
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