Amway to expand by 20% this year

MANILA, Philippines - Amway Philippines, the local affiliate of global direct selling company Amway Corp., expects to grow by 20 percent this year on a strong demand for its vitamin and agriculture products.

In a press conference, Amway Philippines country manager Dominador B. Bonquin said that Amway Philippines expects to grow by 20 percent from last year’s income. He said that the company has been posting double digit growth for the past six years.

Bonquin identified its vitamin line Nutrilite as the biggest growth driver, accounting for 50 percent of the company’s total sales.

Bonquin said that they would like to expand their sales of agriculture products in the country. “I am pushing for the creation of an organic fertilizer manufacturing plant here,” Bonquin said.

Bonquin said he would like to put up the manufacturing plant within five years. He said that the rice plantation in the country is three million hectares while for banana alone the plantation is 60,000 hectares.

The organic fertilizer is 30 percent to 50 percent more expensive than the traditional fertilizer. However, he said that if used properly it could be cheaper. Likewise, Bonquin said that the organic fertilizer can significantly increase the yield of the farmer.

At the same time, Amway is celebrating its 13th year in the country. “Over the past 13 years, we are very proud to have helped tens of thousands of Filipinos to set-up their own businesses and enjoy financial stability,” said Bonquin.

Amway Philippines has been one of the leading multi-level marketing companies in the country which has helped established the independent businesses of over 40,000 Filipinos nationwide.

“After several years of being employees working for a boss, some of our IBOs decided to employ their knowledge and strategy to build and nurture their own Amway business. They now realize that being an IBO have not only given them the chance to better their lives, it has also given them more time for their families,” Bonquin said.

These Amway Independent Business Owners (IBOs) offers over 100 high quality and well-researched Amway products nationwide. Amway products include its flagship brand Nutrilite, the world’s leading brand of vitamins, minerals and dietary supplements, and Artistry, one of the world’s top five prestige cosmetic brands, and a wide range of agricultural and home care products.

“Despite the global economic downturn, Amway enjoyed significant growth last year, driven by our main products Nutrilite and Artistry. Our sales figures in 2009 increased by 17.5 percent compared 2008. Nutrilite increased in sales by almost 33 percent compared to previous year, while Artistry increased by 27 percent,” said Bonquin.