The largest direct marketing company Amway India on Sunday announced its entry into the consumer durables space with a premium cookware range under the label of Amway Queen.
Currently, Amway India sells over 130 products across nutrition, beauty, home care and personal care categories and this is for the first time that the American company is launching a product in the consumer durable segment here.
The product comes with a 30-year warranty. The company has not disclosed the price of the new product.
The Amway Queen stainless steel cookware comes with a technology that helps locks in the moisture which helps to preserve the taste and nutrition of the food.
The multi-layer structure of the cookware makes almost zero oil cooking possible and offers 30 years warranty.
An Amway Queen cookware set comprises a 4-liter stock pot with lid, a 2-liter saucepan with lid, and 1.5-liter saut pan with lid, and an extra lid & stock pot steamer as accessories.
The premium cookware segment is pegged at Rs 250 crore and is growing 35 per cent per annum and Amway is planning to be the market leader over the next three years, Amway India chief executive Anshu Budhraja said.
"Our target is to ensure that durables as a category contributes over 10 per cent of our turnover in the next three years and thus be the market leader," he said.
Amway India is a wholly owned subsidiary of the Ada, Michigan-based Amway Corporation which is one of the largest direct selling companies in the world with presence in over 100 countries.
Set up 56 years ago, Amway, which had $9.5 billion in sales last year, manufacturers and sells directly high quality consumer goods.
Amway India has a manufacturing facility at Nilakottai in the Dindigul district of Tamil Nadu, which is its third manufacturing plant located outside the US. The other plants are located in China and Vietnam.