Amway consolidates China as its no.1 market

By Michelle Yeomans

- Last updated on GMT

Amway consolidates China as its no.1 market

Related tags Marketing research

When direct sales player Amway made efforts to expand beyond its US markets back in 1995 to crack China, it appears to have been a bold move that has more than paid off, as almost 20 years on, the country provides 90% of its business.

On the company’s great feat, Chairman Steve Van Andel recently told regional publication ‘The China Daily’ that when you take into account China's history, it is clear that it is the merchant throughout Asia and the world, and that including the number of people that occupy the country, made sense for Amway to venture there.

"I think that's the reason that we've grown so quickly. In the process of playing the game they're learning how to better operate their business,”​ he said.

Aspirations to continuously strengthen its position

The news comes after the manufacturer of cosmetics and nutritional supplements revealed its plans to further target the massive market with the opening of a dedicated innovation centre in China over the summer.

The new facility was constructed at the same time as the company’s corporate headquarters in Seoul, South Korea, and comprises cross-functional experts in consumer market research, together with technical and clinical research capabilities, concept and product design, and packaging expertise.

Now, as part of a $400 million worldwide push to grow their sourcing units, Amway says it is looking to put in botanical gardens in Wuxi, after the plant-based ingredients became a big part of its business in recent years.

"A lot of traditional Chinese medicine is used as the very basis for a number of our different products around the world.So for us to build a botanical garden now to kind of harness some of that history and use some of that experience as a base for products around the world I think is a great thing to do," ​Van Andel reveals.

Ramping up its South Korean efforts is also in focus...

Meanwhile, the company is also looking to the South Korean market in an effort to target further growth of its skin care brand Artistry, a prestige product line that it claims is now one of the world’s top five selling skin care products.

"Our additional presence in Asia will spark powerful collaborations in science, design and formulation among our regional R&D and marketing experts,”​ said Maud Pansing, Amway vice president of Global Beauty Brand Management.

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