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Amway India expects its nutritional brand Nutrilite to achieve sales of Rs 2,500 crore in India by end-2012.
“Nutrilite will easily cross Rs 1,000 crore by the end of this year. With the launch of new products, we are targeting sales of Rs 2,500 crore from the brand by 2012,” said Mr William S. Pickney, Amway India, Managing Director and Chief Executive Officer, at an event.
The company made its foray into the kids' nutritional category on Tuesday, and launched five products under Nutrilite. The brand currently contributes Rs 900 crore to its over all sales. Globally, the brand is worth Rs 14,450 crore.
Mr Pickney added that he expects the nutritional business to grow 25 per cent annually in India, while the overall sales growth is likely to be around 18 per cent.
The nutrition and wellness category contributes around 50 per cent of Amway's sales in India. Last year, the company had a turnover of Rs 1,790 crore.
“In the first year of introducing our kids range, we expect sales of Rs 50 crore coming from the segment...As we go forward, we will introduce more products under the kids range,” Amway India Assistant Vice-President (Marketing and National Head for Wellness), Ms Deepali Shukla said.
Currently, Nutrilite has a share of around 19 per cent in the around Rs 2,500-crore Indian dietary-supplementary market. The other leading brands are from Dabur, Nestle and GlaxoSmithkline Consumer Healthcare.
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