Date:21/11/2007 URL: http://www.thehindubusinessline.com/2007/11/21/stories/2007112152060500.htm

Back Amway to enter colour cosmetics biz

Our Bureau

Pune, Nov. 20Amway India, wholly-owned subsidiary of the $6.4 billion Amway Corporation, has set itself a revenue target of Rs 1,000 crore in the next three years. Talking to presspersons, Mr Achinta Banerjie, Vice-President, West, Amway India, said the company had a turnover of Rs 738 crore in the year ended December 2006. It is targeting Rs 800 crore in the current year.

He said the company is also entering the colour cosmetics business with a range of four nail colours, six lip shades, one eyeliner and one eye shadow. These are expected to hit the market by December.

Currently, the company has six third-party contractors for manufacturing products. The sixth one has recently gone on stream at Baddi in Himachal Pradesh. Mr Banerjie said it has also begun its non-core line entry into the domestic market and has tied up with about 20 players for marketing their products through the Amway distribution channel.