Popular direct selling company Amway is now looking forward to venture into the consumer durable space in the Indian market. Doug Devos, the Amway president, who is also the son of Rich Devos, said that the company is looking forward at acquisitions for its entry into the segment.
In India, the company does not have any presence in the durable segment, but this contributes to 10% of its turnover globally. The direct selling company might be following in the footsteps of the FMCG giant Hindustan Lever’s (HUL) strategy in India. HUL has already entered into the consumer durable market with its PureIt water purifier.
The consumer durable range of Amway includes the e-Spring water purifier, atmosphere purifier and Queen kitchen ware. The US-based company has a strong presence for consumer durables in key markets like the US, Russia, China, Thailand and Malaysia. Devos said, “Certainly that (acquisitions ) would be a possibility. If we can find out that product line and (can) bring it into our business model, that should be something we can consider”.
Amway’s foray into this market segment could take place within the next five years. Devos also said that if they enter into the consumer durable market, then that will be only through Amway India.