Amway is fortunes dip in India

Admin   |   09 December, 2014   |   733   |   3980

In terms of revenue, it is still bigger than fast moving consumer goods (FMCG) giants such as Gillette and home-grown Emami. But the country’s largest direct selling company, Amway has reported a sharp drop of about 20% in net profit in fiscal year 2014, while its revenue dipped more than 8% during the year.

This is the first time the company has witnessed a decline in both revenue and net profit while the market continued to grow. Its managing director and chief executive officer William S Pinckney's arrest under the Prize Chits and Money Circulation Schemes (Banning) Act, 1978 (PCMCS) during FY14 and also again this year have impacted the company’s operations in the country.