Amway in­vest­ing add’l $1.5 M in Phl

The Philippine Star - - BUSINESS - Rich­mond Mer­cu­rio

Amer­i­can di­rect sell­ing gi­ant Amway Corp. is in­vest­ing an ad­di­tional $1.5 mil­lion to bol­ster its op­er­a­tions in the Philip­pines, a mar­ket where it con­tin­ues to see huge po­ten­tial for growth.

Amway Philip­pines coun­try man­ager Elenita Olmedo said the amount would be used to up­grade fa­cil­i­ties and in­fras­truc- ture as the com­pany gears up to serve a more buoy­ant Philip­pine mar­ket.

“The Philip­pines is in a unique po­si­tion to pro­vide a fer­tile test­ing ground for some new ideas for Amway. Our econ­omy is cur­rently among the fastest grow­ing in South­east Asia and has been on this sta­ble trend in re­cent years. Growth is be- ing driven by in-mar­ket con­sump­tion,” Olmedo said in a brief­ing yes­ter­day.

“With de­clin­ing poverty in­ci­dence and ris­ing in­comes, the Philip­pines is fast be­com­ing an up­per mid­dle in­come coun­try, pro­vid­ing more op­por­tu­ni­ties for re­tail­ing, es­pe­cially for con­sumer goods in the fast-grow­ing cat­e­gories of health and well­ness, beauty and home care,” she added.

At present, the Philip­pines does not rank in the top 10 big­gest mar­kets of Amway glob­ally. Its largest mar­kets are in China, Ja­pan, Korea, US and Thai­land.

“But we’re def­i­nitely one of those emerg­ing mar­kets. That’s one of the rea­sons why they are in­vest­ing in the Philip­pines,” Olmedo said.

Amway Philip­pines is devel­op­ing a new fa­cil­ity called My Amway Place, which will en­able a bet­ter in-shop­ping ex­pe­ri­ence for Amway busi­ness own­ers (ABOs).

It is also en­abling ABOs with a more con­ve­nient shop­ping ex­pe­ri­ence through e-com­merce.

“We are aim­ing for more seam­less op­er­a­tions and co­or­di­na­tion among our more than 60,000 ABOs, which we ex­pect to greatly in­crease their pro­duc­tiv­ity and ef­fi­ciency. A new ex­pe­ri­ence cen­ter in Makati will also support re­tail­ing, train­ing, and com­mu­nity build­ing pro­grams, at least in the Metro Manila area,” Olmedo said.

Olmedo said Amway Philip­pines is also seek­ing to pen­e­trate and reach out to a wider con­sumer base in the coun­try. –

Newspapers in English

Newspapers from Philippines

© PressReader. All rights reserved.