Amway cuts revenue in Russia by 4.9% to 17.9 bln rubles in 2015
MOSCOW. Feb 4 (Interfax) - U.S.-based Amway, which operates on the direct sales market, cut revenue in Russia to 17.93 billion rubles in 2015.
In 2014, Amway's Russian sales amounted to 18.85 billion rubles, so last year revenue in Russia fell by 4.9%.
Amway demonstrated such sales dynamics in the Russia-Kazakhstan region. The company did not separately disclose revenue in Kazakhstan, noting that the Kazakh market demonstrated stable growth over two years and that in 2015 sales volumes in the country doubled.
Amway Vice President in Russia and Kazakhstan Richard Stevens, who was cited in the company's statement, stated that he sees prospects for the development of the direct sales business in Russia, "despite the crisis, sanctions and instability of the exchange rate."