BANGKOK (Manager Daily) Jan 25, 05- A senior executive of US-based Amway Corporation, naming Asia a rising star among direct-selling markets, said the company is yet to enter Russia with a strategy to make it among the ten largest markets of the business this year.
Amway Corporation’s senior vice-president, Jim Payne, who is also the managing director of Amway’s Southeast Asian office, told the '2005 Amway Expo & Convention' in Bangkok on the weekend that direct selling in Asia has a brighter outlook than it is in Europe.
Mr Payne, who is the first managing director of Amway Thailand, named China, Japan, Korea, Thailand, Taiwan, India, Germany, Malaysia and Australia among the world’s largest markets respectively in terms of sales.
“Though there is no law to clearly serve the direct-selling business, the number of populations and economic growth make China the world’s most potential market,” Mr Payne said.
Amway Corporation has planned to make a debut in Russia in March. The country will be the only new market for Amway products his year, he said.
Amway entered Ukraine last year, and is conducting a feasibility study on the Vietnamese market, Mr Payne said.
The Amway executive said the company had foreseen a fierce competition in Russia, the market of US$600-million direct-selling business. Major competitors include Avon, Mr Payne said.
Thailand, Amway’s fifth largest market, is where the number of new members of Amway products ranks the second highest only after China. The number is higher than in the United States, Japan or even Korea, Mr Payne said.
Amway’s mixed juices and beverages, along with garlic tablets, are the world’s best-sold products followed by air filter and protein food supplement.
Amway Corporation’s senior vice-president, Jim Payne, who is also the managing director of Amway’s Southeast Asian office, told the '2005 Amway Expo & Convention' in Bangkok on the weekend that direct selling in Asia has a brighter outlook than it is in Europe.
Mr Payne, who is the first managing director of Amway Thailand, named China, Japan, Korea, Thailand, Taiwan, India, Germany, Malaysia and Australia among the world’s largest markets respectively in terms of sales.
“Though there is no law to clearly serve the direct-selling business, the number of populations and economic growth make China the world’s most potential market,” Mr Payne said.
Amway Corporation has planned to make a debut in Russia in March. The country will be the only new market for Amway products his year, he said.
Amway entered Ukraine last year, and is conducting a feasibility study on the Vietnamese market, Mr Payne said.
The Amway executive said the company had foreseen a fierce competition in Russia, the market of US$600-million direct-selling business. Major competitors include Avon, Mr Payne said.
Thailand, Amway’s fifth largest market, is where the number of new members of Amway products ranks the second highest only after China. The number is higher than in the United States, Japan or even Korea, Mr Payne said.
Amway’s mixed juices and beverages, along with garlic tablets, are the world’s best-sold products followed by air filter and protein food supplement.