Amway to Invest USD 0.5M in Launching Bulgarian Business

Business | September 17, 2014, Wednesday // 12:50
Bulgaria: Amway to Invest USD 0.5M in Launching Bulgarian Business

Multi-level marketing company Amway is to invest USD 0.5 M into launching a business in Bulgaria.

Amway is to set foot on the Bulgarian market in June 2014 with an initial investment of USD 0.5 M, according to reports of investor.bg.

The company will start a series of online and offline trainings of its distributors under the platform Amway Academy.

Bulgaria is Amway’s 30th market in Europe.

The company offers a total of 110 products on the Bulgarian market but it intends to give consumers access to its full product range consisting of over 500 items.

Amway’s product range includes makeup, skincare products, vitamins and dietary supplements, home care products, water treatment systems.

Candan Corbacioglu, Europe Corporate Affairs Area Manager at Amway, explains that the company never offers its full product range upon setting foot in a certain country because it believes that consumers need to get acquainted with its main products first.

She says that the company does not intend to produce any of its products in Bulgaria at this stage.

The company currently operates on over 100 markets on six continents and plans to head for Rome and Milan after launching its business in Bulgaria.

Russia, Turkey, Ukraine and Germany are among Amway’s biggest markets in Europe.

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Tags: cosmetics, distributors
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