Global beauty and cosmetics company Avon plans to launch over 300 products across various categories in the country this year at it looks to maintain over 40 per cent growth rate.
The company, which is present in the country through a wholly-owned subsidiary Avon beauty Products India, currently sells around 1,500 products in India through direct selling agents.
“We plan to launch 327 products across various categories in the country in the current year,” Avon beauty Products India Managing Director, Ujjwal Sankar Mukhopadhyay, told PTI.
The new products would be launched across several categories, including colours, jewellery and skincare, he added.
The company, which currently sells its products in around 1,200 towns and cities in the country, is targeting to reach around 2,000 towns.
“Going ahead we would like to be present in around 2,000 places. I would not like to put a time frame for covering these areas, but this is the way forward,” Mukhopadhyay said.
The company currently sells its products through its representatives in 16 states covering around 70 per cent of the population.
“By 2015, we would like to cover around 93 per cent of the population across the country,” Mukhopadhyay added.
When asked about the growth rate of the company, Mukhopadhyay said:” For the last three years we have been growing at 40 per cent CAGR. We would like to maintain this healthy growth rate in the coming years.”
Avon India, which today launched two anti-ageing products under the brand ‘Anew Genics’, currently has more than one lakh representatives selling the company’s products.
The company has a manufacturing unit at Dehradun, which produces 85 per cent of the products sold in India. Rest 15 per cent of the products are imported from various locations globally, Mukhopadhyay said.
US-based Avon has more than 65 lakh representatives selling its products over 100 countries. It had posted global turnover of more than $ 11 billion last year.