Amway reports that Russia is now fastest-growing market for direct selling entrepreneurs. The former communist country is one of the Ada-based company’s biggest and most promising markets. According to a recent article from mLIVE …
“Rich DeVos and Jay Van Andel launched their company Amway, short for the American Way, during the Cold War when the Soviet Union was considered the biggest threat to democracy and capitalism.
A half-century later, Russia is one of the Ada-based company’s biggest and most promising markets.
Russia not only ended 2012 as one of the direct-selling giant’s top 10 markets but was the only country on the list to also make Amway’s list of countries with double digit growth last year, the company shared when it reported that 2012 record revenues for parent company Alticor of $11.3 billion. The privately held direct-selling giant doesn’t disclose revenues by market.
Amway has been open for business in the former communist powerhouse less than a decade. Since the beginning, the Eastern European country has been one of Amway’s fastest growing markets.The rapid pace of growth in Russia even surprises Amway’s leaders.“It’s a little bit like the China story,” said Doug DeVos, Amway president. In 2010, Amway called China its largest market. Sales in Asian countries generate two-thirds of Amway’s revenues.”
