Amway India Enterprises Pvt. ltd, a direct selling company which is a subsidiary of US-based Amway Corporation, is about to invest 150 crore more as an add-on to the earlier planned investment of Rs 400 crore in Tamil Nadu.
The chief financial officer, Amway, Anshul Budhraja informed, that the company will invest Rs 150 crore more in addition to to the earlier planed investment of Rs 400 crore, now the overall investment would be of Rs 550 crore.
Amway is expecting a growth of around 15-20% between 2014-18 in India. The company has already opened a new Beauty store and the opening of more stores will be followed in other metro cities across India.
To set up all the facility, it will be spread over 49.4 acre land, in southern part of Tamil Nadu. As per a memorandum of understanding with Government of Tamil Nadu, In 2012.
While launching companies first Beauty store of health and beauty at Chennai, Budhraja said the company will be setting up new facility with new production lines for cosmetic, oral care and nutrition products. The commercial production form the plant is expected by 2015.
In next 12-18 months, the company will open 8-10 such stores with an investment of Rs 1-1.25 crore each. the company announced that the toothpaste brand glister and liquid detergent brand SA8 Gelzyme has registered Rs 100 crore revenue, while two brands from Nutrilite reached a revenue of Rs 200 crore.
Amway India has 69 warehouses and 152 offices with an investment of 200 crores in India.