Sales: $2.5 billion
Note: $2.5 billion for personal and home care products. Corporate sales: $8.4 billion
Key personnel: Milind Pant, chief executive officer; Michael Nelson, chief administrative officer; Claire Groen, chief people officer; Giusy Buonfantino, chief digital & marketing officer; Anouchah Sanei, chief innovation and science officer; Nick Thole, chief financial officer; Candace Matthews, chief reputation officer; John Parker, chief sales officer & regional president West; Chee Eng Gan, regional president of Asia and chairman, Amway China; Frances Yu, president, Amway China; Jim Ayres, managing director, Amway North America
Major products: Artistry, Body Blends, Clear.now, Personal Accents and Tolsom skin care and cosmetics; Body Series personal care; Glister oral care; Legacy of Clean home care.
New products: Artistry Studio makeup and bath and body products, Artistry 30 Days Power Shot, Signature Select Personalized Serum, CBD Cream and CBD Cooling Spray
Comments: Corporate sales fell more than 4% last year. Milind Pant became the company’s first non-family CEO in January 2019. Pant had been president of Pizza Hut International and prior to that, he spent 15 years at Unilever. Last year, the company was recognized by Diversity Global magazine as one of the 15 Champions of Diversity. Lynette Collins, director, culture, diversity and inclusion and talent acquisition, was cited for developing a successful Diversity & Inclusion program. Today, women account for nearly half of top executives, up from 14% a few years ago.
Amway was the original side-hustle and as competition has grown and the gig economy becomes the norm, Amway created the Hybris Center of Excellence and a Mobile Center of Excellence to bring its distributors together. In 2019, Amway spent $200 million to bolster its digital capabilities, including launching a new version of its mobile app. Social media helps too, according to Dalton DeVos, grandson of Amway Co-Founder Rich DeVos, who noted that young entrepreneurs see social not as a part of doing business but the way they do business. Social influencers build and leverage credibility, but as DeVos notes, they aren’t better at social media, just more intentional about it. Finally, he pointed out that interaction is critical and constant. Influencers post regularly, engage with questions, ask for opinions and respond quickly to encourage open, ongoing dialogue that builds trusted relationships.
Amway celebrated its 60th anniversary in 2019, and making it to 70 will depend on social commerce, according to Pant.
“We want to make it easy for our ABOs (Amway Business Owners) to delight their customers each day with amazing products and frictionless shopping experiences,” Pant told Direct Selling News. To get there, Pant said Amway will build on its three biggest strengths—the entrepreneurial spirit of its distributors; the existing, vibrant communities they have built offline-to-online; and its key brands such as Artistry.