Amway India’s Treasury team honored with ‘Asia’s Top Treasury Team 2019’award by Treasury Today at the Adam Smith Asia Awards

New Delhi, 29^thNovember 2019: Amway India, the country’s largest direct selling company^[1]has been honored with the award “Asia’s Top Treasury Team of 2019”by Treasury Todayat the recently concluded Adam Smith Asia Awards 2019 in Singapore. Amway’s treasury team was recognized for its impressive efforts in providing innovative solutions to enhance productivity and efficiency across all areas of the company’s business. Mr. Bikash Mukherjee, Associate Vice President – Finance and Accounts, Amway India, received the award on behalf of Amway.

Treasury Today’s Adam Smith Awards are universally recognized as the ultimate industry benchmark for corporate treasury achievement. For this year’s awards, a record-breaking 300 nominations were received from a wide range of corporates across sectors representing every major country in the Asia-Pacific region.

Commenting on the achievement, Mr. Jussi Sullivan, Global Treasurer, Amway, said, “The Amway Treasury team in India has always endeavored topursue forward-thinking business solutions, which have greatly benefitted our customers. This award is a recognition of their innovation and leadership in a rapidly evolving financial landscape. We are proud of the excellent work they have done and are thrilled to receive this prestigious recognition today.”

Mr. K.V Hariharan, Senior Vice President - Finance, Amway India, said, “This award is a testament to the outstanding work that the team has been doing over the years. Our focus continues on being a strong business partner – supporting our stakeholders through customized solutions for superior business growth. This recognition at a global platform will further push us to set new benchmarks for the future.”

Mr. Bikash Mukherjee, Associate Vice President – Finance and Accounts, Amway India, said, “Over the years, Amway India has provided multiple innovative solutions to its business partners and helped them grow their businesses in fast and efficient ways. Today, 95% of our sales transactions are processed electronically which is a testimony to our efforts in this direction. We are honored to be adjudged Asia’s Top Treasury Team 2019.”

About Amway India

Amway India is a wholly owned subsidiary of Amway with headquarters located in Ada, Michigan, USA. Amway is the world's #1[2]direct selling with presence in over 100 countries & territories.

Globally, Amway is 60 years old, US$ 8.8 billion, manufacturer and direct seller of quality consumer goods. Amway’s innovation and industry-leading R&D has seen more than 800 patents granted and another 240 patents

pending.  Amway has nearly 1000 scientists across 100 research and development and quality assurance laboratories worldwide.

Amway India sells more than 140 daily use products across categories like Nutrition, Beauty, Personal Care, Home Care and Consumer durables through Amway Direct Sellers who make personal recommendations regarding the use of distinctive quality products. Amway products are widely recognized and appreciated for their quality and value. These products are backed by a money back guarantee for 100% satisfaction of use[3]. With the aim of increasing consumer outreach Amway has set up more than 63 Xpress Pick & Pay stores across the country.

Amway products are popular not just in India but across the world. Nutrilite is the world's No. 1 selling vitamins and dietary supplements brand[4]. Nutrilite has established itself as a leading brand in the vitamins and dietary supplements category in India as well. Amway has signed Farhan Akhtar as the brand ambassador for the Nutrilite range in India to further promote the brand. Artistry is India’s No. 1 premium skin care brand[5]. Amway India also offers ‘Attitude’, an entry level premium skincare and cosmetics brand targeted at India youth. The product range has been developed keeping the needs of Indian consumers into consideration. 

Amway India is aggressively entering newer categories. Most notably, the company launched a Weight management program called ‘W.O.W.’ (Will Over Weight) which has been really appreciated by the consumers in India. Amway forayed into the consumer durables segment with the launch of a premium cookware range Amway Queen, Atmosphere Drive car air purifier, Atmosphere  Mini Home Air Purifier  and the Energy Drink and Whey Protein under the brand XS. Last year, Amway announced the launch of Nutrilite Traditional Herbs developed specifically for the Indian consumers.

Amway’s manufacturing facility in India is located at Nilakottai in the Dindigul district of Tamil Nadu. India is one of two key global manufacturing hubs for Amway, along with China, in addition to the company’s U.S.-based manufacturing operations. Amway manufacturing facility has won the prestigious LEED Gold Certification from the U.S. Green Building Council as being one of the most environment friendly and sustainable facilities in the country.

[1] Ministry of Corporate Affairs (for Y/E 3-31-18)’

[2]https://www.directsellingnews.com/dsn-announces-the-2018-global-100/

[3] As per refund policy of Amway

[4]Source: http://www.euromonitor.com/amway-claims

Source Euromonitor International Limited; Vitamins and Dietary Supplements, World, GBN, Retail Value RSP, % breakdown, 2016 data

[5][5] Source Euromonitor International Limited; Beauty and Personal Care 2017 edition; as per premium skin care definitions; retail value sales; UBN; 2016 data