In 2013 the company reported record-breaking sales of $11.8bn, an increase on the 2012 figure of $11.3bn, which was also a record-breaking year.
The company says that success of products such as its beauty from within brand Truvivity by Nutrilite, together with its continued global roll-out of its Artistry Youth Xtend and Artistry Ideal Radiance skin care lines have been instrumental in boosting revenues.
With much of the gains concentrated in the Asia Pacific region, and more specifically China, the company has announced a $375m investment initiative to increase its global manufacturing footprint that will see significant development and expansion across the region.
Increasing its footprint in both the US and Asia Pacific
The investment will see the company increase its manufacturing and research and development facilities across the globe, with new plants to be built in Washington, California and Michigan, in the company’s domestic U.S. market.
But even bigger expansion is planned in the Asia Pacific region, with new research and development facilities to be built in China and South Korea, together with a new facility in India.
The company also says it is planning brand new manufacturing sites in both Vietnam and China, as another stage of the expansion programme.
China market is the mainstay
Currently the China market is the company’s mainstay following its entry into the market back in 1995, and around 90% of its annual revenues come from outside its domestic US market.
It is expected that the majority of the investment to expand its facilities will be in the China market, where, together with new manufacturing facilities, the company is also planning on opening new stores.
Last year the company revealed its plans to further target the massive China market with the opening of a dedicated innovation centre in Wuxi that accounts for a $10m investment.
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 its worldwide investment push to grow its 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.