Monday, August 19, 2019

Amway leads net-working businesses here

Feb 06. 2015
Facebook Twitter

By THE NATION

4,975 Viewed

Sales of Amway Global reached US$10.8 billion (about Bt350 billion) last year, while Amway Thailand posted sales of Bt16.25 billion, continuing the company's position as the No 1 networking business in this country.

The global figure represents a decline of 8 per cent from 2013, due to lower revenues in China and fluctuations in foreign-exchange rates.

Products in the health category continued to lead the contribution to total sales. This year, the company says it will continue to drive forward its health and beauty business and ensure robust support for sustainable business opportunities with Amway.

“Sales in 2014 reflect the significant efforts of Amway business owners and employees who continue to do well around the world, despite challenging operating environments found in several nations that are major markets for Amway,” said company chairman Steve Van Andel.

“We continue to see great strength globally as select markets hit record sales numbers and others show resilience that point to strong results in 2015.”

Some of the company’s most mature markets, including South Korea and Taiwan, experienced notable growth last year. Markets influenced by political unrest and economic slowdowns – Thailand, Russia and Ukraine – showed resilience and produced solid results.

The top 10 markets for Amway in 2014 were mainland China, South Korea, Japan, the United States, Thailand, Russia, Taiwan, India, Malaysia and Ukraine.

Sales were largely concentrated in the product categories of nutrition, beauty, durables and home care. Nutrition products continued to lead the way, accounting for 43 per cent of direct-sales revenue. Beauty products contributed 25 per cent, followed by durable products at 19 per cent and home-care products at 8 per cent. Other offerings accounted for 5 per cent.

“Looking ahead to 2015 and beyond, we are optimistic and feel we are well positioned for growth,” Amway president Doug DeVos said. “We will be opening five new manufacturing facilities, many new Amway Experience Centres to support our ABOs [Amway business owners], and improving virtual experiences online. Additionally, attitudes toward, and interest in, entrepreneurship remain at all-time highs.”

Kittawat Ritteerawee, managing director of Amway (Thailand), said: “Amway Thailand showed sales of Bt16.25 billion in 2014 despite political unrest and an economic slowdown.

“Our health products – Nutrilite dietary supplement, eSpring water purifier, and Atmosphere air purifier – were the top sales contributors with 60 per cent of the total, followed by beauty products at 17 per cent. In 2015, Amway Thailand will remain focused on these two categories and continue to heighten our support for ABOs with a new privilege programme that will sustainably build Amway business opportunities for Thais.

“In addition, we have prepared a special corporate social responsibility programme to contribute to Thailand through the Amway for Thai Society Foundation,” he said.

Tags:
Facebook Twitter
More in Business
Editor’s Picks
Top News