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Amway bets big on India to drive global growth, says Milind Pant

Amway

The world’s number one direct selling company, Amway, has continued its growth trajectory in India powered by its nutrition and wellness portfolio along with its thriving community of entrepreneurs. The company is now set for the next-level transformation, further building on the growth strategy charted out by global CEO Milind Pant. Aligned with the focus on unleashing entrepreneurship and creating long term value in the health and wellness category, Amway has earmarked a global investment of over USD 300 million through 2024 to boost innovation and science, digital technology, and entrepreneurship.

Among the 100 plus markets that Amway operates in, India is one of the key growth markets.  Further, India is among the top three preferred investment destinations for Amway with a focus on digital, manufacturing automation, innovation, and nutrition segment. Known for its quality health and wellness products and unparalleled business opportunities, Amway has established a strong foothold in India over the last two decades of its operations in the market. The leading entrepreneur-led health and wellness had announced an investment of over $20 million (INR 170 crores) to boost research and development, manufacturing automation, innovation & science and strengthen digital capabilities in India.

Amway Global CEO, Milind Pant said, “Amway’s global growth trajectory is focused on health and wellness and entrepreneurship. Today, entrepreneurship is being democratized like never before. And, at Amway, as an entrepreneur-led social ideaour vision is to unleash the next generation of entrepreneurs with our all-inclusive business opportunity, making it 10x easier for them to acquire and retain a community of engaged consumers. With unprecedented changes in the employment landscape and the rise of the passion economy, entrepreneurship is becoming one of the preferred choices, especially for women and the youth. Amway has been capitalizing on this growing trend by creating a robust ecosystem, providing avenues for those aspiring entrepreneurs to own and operate their business based on interests and passion they follow, irrespective of the background, education, or financial circumstances. Amway is for everyone! We have made significant strides towards driving entrepreneurship, especially among women and young millennials, through various initiatives like Nari Shakti and AmYoung to help them power their passion and create successful business ventures, thereby turning them into Passionpreneurs”. 

A recent report by McKinsey stated India will be required to create 150 million jobs by 2030 to fast-track growth and meet the expectations of the aspiring workforce. This clearly is an opportunity for an entrepreneur-led company like Amway which has immense potential to generate self-employment opportunities. Currently, with more than 550,000 direct sellers and retailers, Amway is poised to make a formidable impact by creating alternative employment opportunities, and thus contribute towards the economic and entrepreneurial progress of India.

“Alongside, with the rising health-conscious consumers around the world owing to the heightened awareness for health and wellness, the market is growing significantly. Being the market leader in the nutrition category, Amway has been at the forefront, aggressively innovating and indigenously developing health and wellness product solutions to meet the ever-evolving consumers’ needs. We have also witnessed a startling shift in consumer behavior in India. A recent consumer survey indicated that 85% of Indians are making a positive change to improve their current health status which clearly underlines the tremendous market potential for the nutrition category in the country. India is one of the potential markets to drive work in digital innovation and research to meet Amway’s global business needs. Aligned with this, our India team is relentlessly working on products and experiences while focusing on simplifying nutrition with differentiated formats. Through this, we are targeting the masses, especially the youth. Lastly, we are also strengthening scientific capabilities with digital innovation, research and development centre, and nutrition labs in the country,” he added.

As a global leader in the health and nutrition space, Amway is eyeing a global contribution of 65% from the nutrition category to drive business growth by 2024. Also, with the growing spirit of entrepreneurship in the country, Direct Selling today plays a significant role in fueling the rise of the gig economy and for Amway, this will be a key area of investment to build and offer a value proposition to these home entrepreneurs. The move to entrepreneurship is being further fueled by the rise in the passion economy, as people are increasingly turning their passions into businesses using social platforms and technology.

As India’s burgeoning millennial population ushers in the era of creator economy and social commerce, Amway is empowering the new-age entrepreneurs with digital tools and mentorship programmes. With this, Amway aims to help them better engage with their community and turn their passions into prosperity.

The global CEO of Amway, Milind Pant, took charge of the overall leadership of the company in 2019. As the first non-family CEO in Amway, Pant joined a select league of Indians to head large global firms. Under his leadership, Amway continues to build a disruptive enterprise that is customer-centric, agile, and future-oriented. He also serves as the vice-chair on the U.S-India Business Council Global Board of Directors.

About Amway

Amway is an entrepreneur-led health and wellness company based in Ada, Michigan. It is committed to helping people live better, healthier lives – across more than 100 markets worldwide. According to Forbes magazine, it is among the Top 50 privately held, family-owned companies in the United States. Top-selling brands for Amway are Nutrilite™, Artistry™ and XS™ energy drinks – all sold exclusively by entrepreneurs who are known as Amway Business Owners. Amway is the No. 1 direct selling business in the world, according to the 2021 Direct Selling News Global 100. For company news, visit www.amwayglobal.com/newsroom.

About Amway India

Amway India is a wholly owned subsidiary of Amway with headquarters located in Ada, Michigan, USA. Amway is the world’s [1] direct selling company with presence in over 100 countries & territories.

Globally, It is 60+ years old, US$ 8.5 billion, manufacturer and direct seller of quality consumer goods. Amway’s innovation and industry-leading R&D has seen more than 750 patents granted and another 220 patents pending.  It has more than 500 scientists, engineers, and technical professionals who extend our innovation and science capabilities through 11 locations to deliver global, regional, and local product research and development.

Amway India sells more than 140 daily use products across categories like Nutrition, Beauty, Personal Care, Home Care and Consumer durables through Amway Direct Retails and Direst Sellers who make personal recommendations regarding the use of distinctive quality products. Amway products are widely recognized and appreciated for their quality and value. These products are backed by a money back guarantee for 100% satisfaction of use.

Amway products are popular not just in India but across the world. Nutrilite is the world’s No. 1 selling vitamins and dietary supplements brand[3]. Nutrilite has established itself as a leading brand in the vitamins and dietary supplements category in India as well. Artistry is India’s No. 1 premium skin care brand,

Amway India also offers ‘Attitude’, an entry level premium skincare and cosmetics brand targeted at India youth. The product range has been developed taking the needs of Indian consumers into consideration.

Read more: https://www.thecambaypost.com/

https://www.amway.in/

Preety Chaudhary/New Delhi/Updated: Dec 22,2021