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<ul><li><keyword id="187224" type="COMPANY" weightage="20" keywordseo="Amway-India">Amway India</keyword> has earmarked Rs 30 crore to strengthen its supply chain and automation.</li><li>Globally, <keyword id="129103" type="COMPANY" weightage="20" keywordseo="Amway">Amway</keyword> is 60 years old, US$ 8.4 billion, manufacturer and direct seller of quality consumer goods. </li></ul>FMCG player Amway India, one of the country’s leading FMCG direct selling companies, is focusing on bolstering it’s home delivery (HD) and logistics network to support the surge in online orders. As a part of Amway’s 10-year growth vision, it has begun integrating offline-to-online (O2O), earlier this year, to drive targeted results. The company has witnessed a significant shift to online sales, from 33.6% in Feb 2020 to over 70% today. Amway expects the trend to continue and foresees the online orders to reach over 5-6 lakhs per month by the end of this year. Commenting on Amway’s home delivery strategy, <keyword id="1687525" type="PERSON" weightage="20" keywordseo="Anshu-Budhraja">Anshu Budhraja</keyword>, CEO, Amway India, said, “In the last few months, we have witnessed a rapid shift in consumer behavior, especially in retail, with people increasingly migrating to online platforms for shopping. Amway too has observed a similar trend. As web sales doubled, there has been a significant upward shift in the home delivery orders, and we expect this trend to continue. To ensure seamless shopping experience and smooth last-mile delivery of orders, we are working towards strengthening our supply chain and logistics. We will be investing INR 30 crore to enhance the home delivery experience by adding warehouse space, manpower, new logistics partners, automation in warehouses, and other back-end processes. As we move forward, both offline and online platforms will form a key component of Amway India’s future strategy with a tremendous focus online, guided by consumer trends and behavior.” Talking about the growing online orders and its significance, Sanjeev Suri, Vice President - Global Omni Channel Logistics, Amway India, said, “Currently, we are doing over 2.8 lakh home deliveries, which is roughly 70%-80% of our total sales, from 1 lakh home deliveries before March, accounting to 40% of our total sales count. This reflects a new world order where consumers demand everything at the click of a button. The trend is especially relevant with the Indian consumers’ embracing e-commerce, which is expected to grow 27% to reach $99 billion by 2024, as per the latest report ‘Global Internet: e-commerce's steepening curve’ by Goldman Sachs. To address this evolving trend, we are also planning to launch same-day delivery and online return services by the early next year, in Q1, to enhance the post-purchase experience.” To accommodate the evolving supply chain scenario, Amway India is working towards a robust supply chain and home delivery strategy. In line with this, Amway is building an independent last-mile delivery model under clearly structured multi-vendor national alliances. Currently, Amway is working with a combination of 18 local and national delivery partners and plans to strengthen this network by adding some leading national logistic partners by the end of 2020. The company is now servicing 8,000 pin codes and aims to scale up to reach 15,000 pin codes by adding more national players and leveraging their network. Amway is also looking to add 40% additional third-party manpower across India to support and fulfill the online demand. The increasing dependence on technology has paved the way for continued digital transformation at every level of Amway India’s operation. With the recent launch of multiple digital and social tools, Amway India aims to make it 10 times easier for the Amway direct sellers to seamlessly embrace online to buy and sell products and build their business.

Amway India witnesses 200% surge in home deliveries, looks at scaling online orders to 5X by 2020

<ul><li><keyword id="1447240" type="PERSON" weightage="20" keywordseo="Saikhom-Mirabai-Chanu">Saikhom Mirabai Chanu</keyword> won a silver medal in weightlifting at the recently concluded Tokyo Olympics 2020. </li><li>She will be now representing <keyword id="129103" type="COMPANY" weightage="20" keywordseo="Amway">Amway</keyword>'s <keyword id="570139" type="COMPANY" weightage="20" keywordseo="Nutrilite">Nutrilite</keyword>. </li></ul><keyword id="187224" type="COMPANY" weightage="20" keywordseo="Amway-India">Amway India</keyword> has appointed Olympian Saikhom <keyword id="1512866" type="PERSON" weightage="20" keywordseo="Mirabai-Chanu">Mirabai Chanu</keyword> as the brand ambassador for its Nutrilite range of products. Chanu will spearhead the company’s campaigns focused on its foundation range such as <keyword id="11874969" type="UNKNOWN" weightage="20" keywordseo="nutrilite-daily">Nutrilite Daily</keyword>, Omega and All Plant Protein amongst others, across platforms. The association with the Olympic medalist is in line with Amway’s focus on consolidating its health and nutrition category, especially targeting women and youth in the country. Commenting on the association, Anshu Budhraja, CEO, Amway India said, “Amway and Nutrilite symbolize best of entrepreneurship, opportunity, women empowerment, nutrition and wellness globally. Our association with Mirabai Chanu is a natural choice. She exemplifies our values of hope, commitment, self-empowerment, healthy living; and her commitment to fitness is unparalleled. This makes her the perfect partner to further amplify our ethos of helping people live better, healthier lives.” “Our association with Ms. Chanu is also a tribute to our incredible women leaders who have been leading from the front and re-imagining the future, for themselves, for their families and ultimately for the society at-large. Comprising over 60% direct sellers, women and youth are at the heart of this incredible organization and are the enablers in helping us drive the commitment towards entrepreneurship to empower the women and our women,” he added. Speaking about her association, Saikhom Mirabai Chanu said, “Nutrilite is an iconic brand, recognized globally for its plant-based approach to dietary supplements. As a professional athlete, I am always looking for ways to improve my fitness and thereby, my game. Hence, proper nutrition through a balanced diet is extremely important for me. I am excited to join hands with Nutrilite –which is world’s no 1 vitamins and dietary supplements brand, committed to making people lives healthier.” Talking about the newly on boarded brand ambassador Mirabai Chanu, Ajay Khanna, Chief Marketing Officer, Amway India, said, “As the nation prepares to build their health and strengthen their immunity, we are delighted to welcome Mirabai Chanu to the Nutrilite family. Her unmatched dedication to fitness and youth appeal resonates well with Nutrilite’s world-class image offering the best of nature and the best of science for optimal health. With Ms. Chanu as our brand ambassador, we are confident of further strengthening our connect with young consumers across the country.” A global leader in the nutrition segment, Amway continues to solidify its leadership in the health and immunity domain through consistent product innovation and the unique seed-to-supplement process. Nutrilite, the flagship brand of Amway, enjoys a successful legacy of over 80 years of pioneering and perfecting the plant-based approach to supplementation. The company recently launched Chyawanprash by Nutrilite and Nutrilite Vitamin C Cherry Plus, a targeted supplement in the food for special dietary usage (FSDU) segment, further strengthening the nutrition portfolio. With evolving consumer trends, the nutrition category has registered immense growth with Nutrilite contributing over 61% to the company’s business revenue. The category is poised for tremendous growth with an increase in contribution to over 65% (CAGR of 10%) by 2024, which includes a significant contribution from the Nutrilite Traditional Herbal segment.

Amway India onboards Olympic medalist Saikhom Mirabai Chanu as the brand ambassador for its Nutrilite range

New Delhi, Mar 8 () US-based direct selling major Amway expects women entrepreneurs to play a crucial role in its future growth in India -- one of the four countries which it has identified as a key market, according to the company's global CEO Milind Pant. The company, which has set a target of helping "a billion people live healthier" by 2029 under a 10-year plan to mark its 70th anniversary, currently has women accounting for around 60 per cent of the 5.5 lakh-odd distributors it has in India. "India is going to be a priority for us along with China, US and Thailand. We identified four priority markets, of which India is one of them," Pant told in an interview. He further said, "India is already one of our top 10 markets and we look at India as being one of four markets that will drive global growth." He said with the 'gig economy' also catching up fast in India as it is globally, "Amway can play a special role with women and women entrepreneurs". "One of the things we talk about internally is 'Naari Shakti'. In some of the biggest and most successful markets like (South) Korea, 90 per cent of our distributors are women, in Russia 80 per cent of our distributors are women, in India 60 per cent and growing. I see entrepreneurship globally, including India, to be led by women," Pant said. With participation of women in the workforce, especially in tier-2 and tier-3 cities, witnessing incremental growth, Amway is looking to tap women who operate from within their homes to supplement family incomes. Asked by how much the size of women distributors in India can grow from the current 60 per cent of the total, he said taking South Korea as an example there is a lot of room for growth. "The most successful market that we have is (South) Korea, which is a country of 50 million people and it is a business that is four times the size of the India business, 90 per cent of our distributors and entrepreneurs are women. There's a lot of room to grow and women can drive it (here in India)," Pant said. Amway India clocked revenue of Rs 1,800 crore in 2019 and is looking at growth of around 5-6 per cent this year. When asked if the company planned fresh investments in India, he said its recently announced global investment of USD 500 million will also cover supporting the growth plans here in the country. The company's investments will be in digital and technology; product and product R&amp;D; and distributor incentives, he added. Bullish on India, Pant said all the three global mega trends -- explosion in the gig economy, health and wellness, and social communities built on social platforms -- which are the "tailwind" for its business are also happening in India. "India is right at the sweet spot of these mega trends with a young population," he said. Gig economy denotes prevalence of short-term contracts or freelance work as compared to permanent jobs in the labour market. RKL ABMABM

Women entrepreneurs key to Amway's future in India: Global CEO Milind Pant

<ul><li>Within the lockdown months, <keyword id="3966270" type="PERSON" weightage="20" keywordseo="FarEye">FarEye</keyword> saw a spike in usage, expanded internationally and most recently raised $13 million following a raise of $24.5 million in April. </li><li>In an interview with Business Insider, Amit Bagga, Chief Revenue Officer, FarEye shares the company’s unique position for growth.</li><li>Some of FarEye’s current clients are DHL, Amway, Hilti, Walmart, Domino’s and Zomato.</li></ul>When the coronavirus pandemic began, businesses faced with the unknown had to quickly find ways to sail through the tough times. For all the sectors that needed a quick turnaround, the supply chain sector had to do it first to enable other businesses. And that’s where <keyword id="108235" type="ORGANIZATION" weightage="20" keywordseo="logistics">logistics</keyword> software firm FarEye found its sweet spot. This Microsoft-backed seven-year old startup offers predictive analysis in the logistics sectors – where it gives its clients visibility over demand and buying trends. It works across channels – from manufacturers to retailers. Some of FarEye’s current clients are DHL, Amway, Hilti, Walmart, Domino’s and Zomato. Within the lockdown months, FarEye saw a spike in usage, expanded internationally and most recently raised $13 million in funding, closing the round where it raised $24.5 million in April. A trillion dollar addressable market that got <keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> interested FarEye saw a month-on-month 180% increase in usage during the lockdown months as it enabled B2B (business to business) and B2C (Business to consumer) last mile delivery. “The sector in which we operate is currently digitized to less than 10%, so there is a race for the rest 90%. We want to separate out in the play where the SAPs, Oracles operate. The last mile market is reported to be $55 billion by 2025, our aim is to be in the top 4 players in the market and for that you need just 5% of the market,” Amit Bagga, Chief Revenue Officer, FarEye told Business Insider. As businesses began to take stock of the impact of the pandemic, they had to find ways to be conservative about their spending, ensure rapid business transformation, and that products are delivered at home. And Bagga says that there’s a trillion dollars of wasted cost that they can take out of the supply chain. “That’s the pie we are after,” he said. So, it’s not surprising that the startup has got big money backing it – Microsoft’s M12 fund, The Fundamentum Partnership, the growth-capital fund backed by Nandan Nilekani and Sanjeev Aggarwal and KB Global Platform Fund, one of the leading investment firms of Korea. “It’s key for a company like Microsoft to basically build partnerships with people who will become category kings and with Fareye, it's a very strategic alliance. Microsoft wants to become the platform that leads digital transformation and everywhere you go you will need that optimization in logistics. With technology, that’s 50% of your supply chain costs right there that can be cut down to drive profitability,” said Bagga. Road to recovery A recent report by PwC on revival and growth, housed the supply chain as one of the key sectors for the economy’s revival. And at FarEye the early signs of recovery are seen. “We have seen about 80% of the pre-COVID engagement resurface back. We are now participating in 3-4 times the global RFPs (Request for Proposals) than we were in April,” he said. And they are also doubling down on hiring and expansion. The 11-year old startup has already added 12% to its headcount of 400 and is expanding “exponentially” into the US and European markets. While Bagga didn’t disclose their revenue details, he said they are eyeing 200-300% growth year-on-year. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/its-the-day-airtel-and-vodafone-idea-have-been-waiting-for-heres-the-agr-case-timeline-of-26-years/articleshow/77845908.cms">It's the day Airtel and Vodafone Idea have been waiting for – here’s the AGR case timeline of 26 years</a> <a href="https://www.businessinsider.in/retail/news/ambani-vs-damani-indias-635-billion-retail-ring-will-see-the-countrys-two-richest-men-battle-with-different-strategies/articleshow/77846555.cms">Ambani vs Damani ⁠— India’s $635 billion retail ring will see the country’s two richest men⁠ battle with different strategies</a>

INTERVIEW: Microsoft-backed FarEye sees a trillion dollars in wasted costs across the global supply chain

<ul><li>This year, companies are adopting digital platforms to facilitate <keyword id="3323268" type="PERSON" weightage="20" keywordseo="Virtual-internships">virtual internships</keyword>, thanks to the <keyword id="8637077" type="UNKNOWN" weightage="20" keywordseo="Coronavirus-lockdown">Coronavirus lockdown</keyword>. </li><li>So far, at least 500 students are set to undergo internships in a remote setup. </li><li>From induction to the real time projects — Reliance Industries (RIL), Samsung, Bharti Airtel, AB InBev, Goldman Sachs and JP Morgan are onboarding interns virtually. </li><li>Starting today, 98 Goldman Sachs interns will start their internship virtually. </li><li>Other companies like Ola AB InBev, Realme PaySa have also hired nearly 100 interns, despite the lockdown. </li></ul>Across industries, recruiters rely on internships heavily to assess potential candidates, to hire for full time roles later on. However, this time around, companies are adopting digital platforms to facilitate internships, thanks to the Coronavirus lockdown. So far, at least 500 graduate students are set to undergo virtual internships — in a remote setup. From induction to real time projects, companies like Reliance Industries (RIL), Samsung, Bharti Airtel, AB InBev, Goldman Sachs and JP Morgan are onboarding interns virtually with its e-mentoring sessions. In fact, a few companies are also enabling virtual company tours via video conferencing to ease the learning process. Shantanu Das, chief HR officer at Amway India told Mint how the company held a ‘virtual walk the floor’ to introduce new interns to the team. Starting today, <a href="https://economictimes.indiatimes.com/news/company/corporate-trends/as-internships-go-virtual-cos-try-to-ensure-bonding-is-real/articleshow/75523425.cms">98 Goldman Sachs interns </a>will start their internship virtually. The company hired over 700 interns in total this year. While JP Morgan has kicked off its summer internship programme with nearly 150 interns. Oyo Rooms also said that it is hosting over 200 interns across roles such as finance, revenue management, operations, sales and more. The interns will be hired for 4-8 weeks for MBA and graduate students. Samsung virtually onboarded 36 interns this academic session from top b-schools. “I would call this batch of interns one of the luckiest because the first lesson that they have been taught is that with technology and innovation, everything is possible. They have joined Samsung in our endeavour to make remote working and social distancing a success,” said Sameer Wadhawan, Head HR at Samsung India. <div type="image" title="Samsung_Ignite" msid="75552304" hostid="261" caption="&amp;lt;p&amp;gt;Samsung&amp;#39;s virtual internship programme&amp;lt;/p&amp;gt;"></div> In a LinkedIn post, RIL said that it is onboarding 84 interns digitally under its 'Virtual Reliance Summer Program'. “From introducing gamified learning for 84 <keyword id="992826" type="PERSON" weightage="20" keywordseo="summer-interns">Summer Interns</keyword> and virtually inducting 130 new hires, to helping over 30,000 colleagues develop the right skills to cope with COVID-19, RIL is helping teams stay right-skilled, motivated and productive,” the <a href="https://www.linkedin.com/posts/reliance_reliance-learningatril-learningasawayoflife-activity-6662227309942181888-jMqE">company said</a>. Meanwhile, telecom operator Bharti Airtel also onboarded 50 summer interns digitally from management colleges like Indian Institutes of Management (IIMs) , Xavier School of Management (XLRI), Faculty of Management Studies (FMS) Delhi, Management Development Institute (MDI) Gurgaon. They will work on real-time industry projects. Samit Deb, CHRO at Airtel<a href="https://telecom.economictimes.indiatimes.com/news/airtel-digitally-onboards-50-summer-interns-from-top-b-schools-amid-nationwide-lockdown/75402451"> told </a>ET that the company is making sure that no processes are delayed. “Right from induction to mentorship to final reviews, the entire program will run virtually,” he added. Other companies like Ola, AB InBev, Realme PaySa have also hired nearly 100 interns, despite the lockdown. "We are planning fun and engaging activities for our interns to come together as a part of Ola’s community. They are part of daily team meetings, informal catch-ups and cross-functional team webinars which maximizes their learning opportunities as well. All the interns are connected across social platforms and some of them have in fact collaborated to perform for all employees at the weekly e-gathering as well," Rohit Munjal, CHRO, Ola told Business Insider. See also: <a href="https://www.businessinsider.in/careers/news/in-a-post-covid-world-the-number-of-freelancers-contractual-workers-will-go-up-says-deloitte/articleshow/75462448.cms">In a post-Covid world, more companies will engage freelancers, says Deloitte</a> <a href="https://www.businessinsider.in/business/corporates/news/one-in-three-indian-companies-have-decided-to-freeze-salaries-a-new-report-shows/articleshow/75528701.cms">One in three Indian companies have decided to freeze salary hikes, a new report shows</a> <a href="https://www.businessinsider.in/careers/news/goldman-sachs-deloitte-ey-and-other-top-audit-firms-hiring-this-week/articleshow/75525940.cms">Goldman Sachs, Deloitte, EY and other top audit firms hiring this week</a>

Goldman Sachs, Reliance, Samsung and others onboarding interns virtually during the lockdown

<div class="image-container float_right click-to-enlarge"><div class="image"><a title_source="Bloomberg" title_caption="" class="zoomin" href="http://static3.businessinsider.com/image/51f9186f69bedde44b000012-960/michael-scissons-1.jpg"></a><a href="http://www.businessweek.com/videos/2012-06-11/twitters-nascar-ad-seeks-new-users-scissons-says">Bloomberg</a></div></div>Syncapse, the <keyword id="6354632" type="COMPANY" weightage="60" keywordseo="Social-media">social media</keyword> marketing management company that <a href="http://www.businessinsider.com/syncapse-is-in-bankruptcy-after-laying-off-most-of-its-100-person-staff-2013-7">filed for bankruptcy recently</a>, collapsed despite having a roster of blue chip enterprise clients — such as JPMorgan Chase and Coca-Cola — and 100 small and medium sized business clients, according to a copy of the asset sale document prepared by the investment bank charged with restructuring or selling the company. On paper, Syncapse sounded like a great business. It was founded by CEO Michael Scissons, who headed Interpublic Group's Candian ad sales for <keyword id="6354576" type="CITY" weightage="60" keywordseo="Facebook">Facebook</keyword> back in 2006. Interpublic is one of largest ad agency holding companies. It eventually <a href="http://www.businessinsider.com/finally-interpublic-reveals-the-exact-size-of-its-facebook-stake-2012-7">became an investor in Facebook</a>, making millions when its stake matured after the Facebook IPO. Syncapse's client list included Anheuser Busch-InBev, Amway, Coca-Cola, Diageo, JPMorgan Chase Bank, Johnson &amp; Johnson and L’Oreal, the documents claim. The company had three out of Facebook's four Preferred Marketing Developer badges, giving it the right to serve ads on the Facebook platform. Only Adobe has all four qualifications, the documents say. Perhaps best of all, Syncapse had a low cost base. About 80 of its employees were in India, earning just $27,000 a year, the document says:
Syncapse’s R&amp;D and support, were centered in Gurgaon, India, which is a rapidly growing high-tech suburb of New Delhi. Previously with approximately 80 employees, and an average annual salary cost of $27,000, Syncapse India was a cost-effective, scalable R&amp;D and support centre. 
Yet its revenue — garnered after it was backed by $45 million in venture funding — was always paltry. Here's a snapshot: <div class="image-container click-to-enlarge"><div class="image"><a title_source="Gerbsman Partners" title_caption="" class="zoomin" href="http://static1.businessinsider.com/image/51f918cdecad044924000002-960/screen shot 2013-07-31 at 9.38.38 am.png"></a>Gerbsman Partners</div></div> The documents blame Syncapse's reliance on RIM/Blackberry as a client for its collapse. As the troubled mobile phone maker pulled back its marketing spend post-2009, Syncapse was unable to win newer, richer clients fast enough, the documents say: 
Syncapse’s revenue was historically heavily concentrated with RIM/Blackberry, which accounted for as much as 89% of the company’s revenue in 2009, but &lt;10% in FY2013. As RIM reduced its marketing spending, due to its own market challenges, Syncapse had to backfill the decline in RIM revenue with other enterprise clients. While top-line revenue growth appears flat and net income performance has been volatile, the Company had underlying, year-over-year growth, ex-RIM, with the addition of major enterprise clients during periods of significant investment in product development. 
We described yesterday that <a href="http://www.businessinsider.com/syncapse-is-in-bankruptcy-after-laying-off-most-of-its-100-person-staff-2013-7">Syncapse was not profitable</a> in any financial period after 2009.
The sale document, <a href="http://www.businessinsider.com/document/51f919d46bb3f76735000063/syncapse_sales_letter.pdf">which you can download here,</a> should be sobering reading for executives working in social media marketing management companies. Facebook has more than 260 preferred marketing developers feeding ads and other marketing activities into Facebook's system. Facebook books about $6 billion in ad revenue in any given year. That "market" is far smaller than U.S. TV <keyword id="35666" type="COMPANY" weightage="60" keywordseo="advertising">advertising</keyword> ($64 billion) which is served by far fewer ad buyers. And, worryingly, every time we've seen hard numbers come out of social media marketing companies — even the successful ones — they've always been losing money.

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Amway India witnesses 200% surge in home deliveries, looks at scaling online orders to 5X by 2020

BI India Partner

Amway India onboards Olympic medalist Saikhom Mirabai Chanu as the brand ambassador for its Nutrilite range

BI India Partner

Women entrepreneurs key to Amway's future in India: Global CEO Milind Pant

PTI

INTERVIEW: Microsoft-backed FarEye sees a trillion dollars in wasted costs across the global supply chain

Sanchita Dash

Goldman Sachs, Reliance, Samsung and others onboarding interns virtually during the lockdown

Prerna Sindwani

Syncapse Bankruptcy Documents Lay Bare The Financials Of Marketing On Facebook

Jim Edwards

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