News Source: Economic Times
"Faced with the challenge of slowing growth and the threat of legal trouble to its business in Andhra Pradesh, Amway India, the wholly-owned subsidiary of the US-based direct seller Amway Corporation, is looking to reverse its fortune with the launch of a range of low-priced fast moving consumer goods (FMCG) products aimed at tier II & III cities. The new line, labelled ‘Great Value Products’, is priced 20-30% lower than Amway’s existing range, and includes mass-market categories like coconut oil, hair oil, shaving cream, disposable razors, toothbrushes et al. Though the Rs 800crore Amway India claims it has grown by around 10% in 2007, industry sources say the growth may be closer to 5%.
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