Tuesday, February 22, 2011

Amway Malaysia - Lines up 7 new Products, 4 more Shops

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Amway (Malaysia) Holdings Bhd (6351)plans to maintain its sales growth momentum of past years through the launch of seven new products, and the opening of between three and four more Amway shops this year.

The seven new products will be for the beauty and food supplement categories.

The direct seller registered RM719.4 million in profits in 2010, up 8.4 per cent from the previous year's RM663.9 million.

Amway Malaysia managing director Low Han Kee said besides its on going efforts to grow its energetic distributor network, globally Amway will be spending a lot of time and resources in developing its information technology (IT) capabilities.

More than half of its distributors are under the age of 35.
Some half a billion dollars (RM1.5 trillion) have been allocated for its IT initiative.

Last year Amway's distributor network grew by almost 10 per cent to 221,000.

Low said this after launching its RM7 million Brand Experience Centre, its first in Malaysia.

It currently has 15 shops nationwide.

The 10,000 sq ft Brand Centre is housed at Amway headquarters in Petaling Jaya, Selangor, and is one of the largest Amway Brand Experience Centres in the world.

"As part of Amway's ongoing strategy to build the business, the Brand Experience Centre allows an opportunity to showcase our line of products to Amway distributors and their customers. Previously Amway distributors and product catalogues market our story. Now we have expanded to telling our Amway story in one single location in a connected manner," Low said.

The direct seller declared a total dividend of 66 sen per share for the financial year ended December 31 2010.

Source: Business Times, 22 Feb 2011

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