US’ Amway to open 28 stores in Russia by 2020

MOSCOW, Jul 25 (PRIME) -- U.S. manufacturer of beauty, healthcare and household mass products Amway plans to open 28 stores in Russia worth up to 40 million rubles each by the end of 2019, Nick Muzashvili, logistics director for Russia and Kazakhstan, told PRIME on Tuesday.

“Today in Russia we are actively developing the project “Availability of products” and within its framework we are opening stores “My Amway Centers” that will allow you to see, try out the product, learn about its features. We plan to open a total of 28 stores by the end of 2019, 16 of them will appear in place of the existing distribution centers, which now operate in the b2b segment,” he said.

Investments in each store will stand at 15–40 million rubles depending on the area, he said.

“It is difficult to provide the total sum yet, but we expect that the recoupment period will amount to around four years,” he added.

Amway has 12 plants in North America and two in Asia. The company’s total sales stood at U.S. $8.8 billion in 2016, including Russian sales of 16.1 billion rubles.

(59.6572 rubles – U.S. $1)

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