The "nutrition and wellness" segment is poised for a big leap with both the fast moving health goods (FMHG) and fast moving consumer goods (FMCG) companies upping the ante.
Speaking to Business Line, Mr William S. Pinckney, Chief Executive Officer and Managing Director, Amway India, said that rising costs of medication have engineered the shifting of lifestyle gears from the "cure" to "prevention" mode. "So we have more companies joining the lucrative bandwagon."
Amway is the pioneer in the sphere of dietary supplements dating back to almost 70 years. "This has always given us the advantage of being one up. Ours is also one of the earliest companies to harness the power of nature and realise the potential and role of plants in nutrition," Mr Pinckney said. A recent Euromonitor study (October 2004) has put Amway as the market leader in the vitamins and dietary supplements sphere in India.
Nutrilite, the nutrition and wellness brand, is the largest contributor to Amway's sales turnover both globally and in India. It has emerged as the largest and fastest growing brand for Amway India. Also on offer is the Persona family bar soap and Satinique shampoo. But they are not medicated.
Skin-care products fall under two brands - Artistry, the super premium global cosmetic brand, and Attitude, an India-specific premium skin-care brand.
Artistry has emerged as the leader in India in the prestige category of skin-care and colour cosmetics, Mr Pinckney said. Attitude was launched as recently as in February 2005.
Amway does not feel the need to take any rearguard action to protect its turf from FMCG/FMHG companies. "Competition is here to stay. But what sets an organisation from competition is a combination of various parameters - quality, service and a unique selling proposition.
"For instance, Amway offers quality products at affordable prices with a money back guarantee should a customer feel not happy with the quality/delivery of the product," Mr Pinckney added.