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US-based Amway Corporation, one of the world's largest direct selling company, opened its Hong Kong flagship store in Causeway Bay today (June 7).
The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, was invited to officiate at the opening ceremony.
The new two-storey Amway Causeway Bay Showroom and Merchandising Centre represents a significant expansion of Amway's presence in Hong Kong.
Since their establishment in Hong Kong nearly 30 years ago in 1974, Amway's office has successfully grown - from four employees to over 90. They now sell more than 160 products through tens of thousands of active independent distributors.
For more than a decade, Hong Kong has been the regional headquarters of Amway Greater China.
"Hong Kong has continued to be a dynamic and vibrant market for us," said the Regional CEO of Amway Greater China, Mrs Eva Cheng.
She added: "Consumers here are sophisticated and constantly look for good quality products to upgrade their lifestyle. We believe that there is still tremendous untapped market potential even after 29 years in this city. Employees are hardworking and ambitious, and use of experienced management talents from Hong Kong has been a key part of our China entry strategy."
Today, the Greater China Region is one of Amway's best performing regions in the world, with calendar year 2002 sales reported at US$725 million (HK$ 5.655 billion).
"With 29 years of operation, Amway Hong Kong is the longest-standing direct selling company as well as an industry leader in Hong Kong," the General Manager of Amway Hong Kong, Mrs Angela Keung said.
"The HK$5 million investment in the new store is a clear vote of confidence and commitment to Hong Kong. We are convinced that Hong Kong's skilled workforce and free economy, in addition to Amway's quality products, unique business opportunity and dynamic distributor force, will contribute to our continual success in the local market," Mrs Keung explained.
Mr Galpin congratulated Amway on its new store in Hong Kong. He said: "We are delighted that Amway increased its investment in this city.
"Hong Kong is Amway's second overseas market outside North America. Hong Kong serves as a platform and launch pad for Amway to expand into Taiwan and mainland China."
Mr Galpin continued: "Amway's expanded presence here confirms our position as a regional shopping hub, and is an example of another leading multinational corporation utilising Hong Kong as a base to tap the mainland market."
He added: "Hong Kong's proximity to the mainland market, a liberal regulator regime and its high per capita disposable income are especially important for direct selling companies. Companies with regional operations here can take advantage of the Western business tradition and the rule of law."
Amway Corporation was founded in 1959 in Michigan, USA. It operates in 80 countries and territories, marketing health and fitness, skin care and cosmetics, personal care, home tech and home care products through 3.3 million independent distributors.
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating foreign investment into the city by providing all the support needed to establish a business presence here.
Ends/Saturday, June 7, 2003
Issued at HKT 15:19
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