Amway India, a direct selling FMCG Company in the country, is all set to enter the Rs 500 crore (Rs 5 billion) colour cosmetics segment.

The company has plans to launch colour cosmetics products in the next few months.

The company, with a turnover of Rs 738 crore (Rs 7.38 billion), at present has around 80 products in four categories - Personal care, Home Care, Nutrition & Wellness and cosmetics categories.

Almost all Amway India products are manufactured in the country through six third party contract manufacturers. Amway has invested in excess of $4 million (approx. Rs 17 crore) to bring the production facilities and skills to international standard.

"Since inception in India in 1998, Amway has been focusing on the skin care segment with its super premium range of cosmetics - Artistry. Two years ago, Amway India launched its second tier skin care cosmetics brand 'Attitude".

Taking a cue from the growing colour cosmetics segment, Amway India is all set to make its presence felt in this segment, when it rolls out its range of colour cosmetics to be sold under the brand name "Attitude". To begin with we will be launching 4 shades of nail enamels, 6 shades of lipsticks and 1 shade of eye liner," the company executive told Business Standard.

"Worldwide, Amway is known as a health and beauty company. Our super premium range of cosmetics - 'Artistry' and our premium range - 'Attitude' has been widely accepted in India. With a range of skin products in our portfolio, we felt the time was just right to enter the colour cosmetics segment. This sector has been buoyed by phenomenal growth over the years and given Amway's superior quality of product offerings, we are confident of notching up impressive sales figures in a short span of time," he said.

Commenting on the pricing of these new offerings, he said, "These will be very competitively priced keeping in mind the price sensitive target consumers in mind."

The size of colour cosmetics segment in India is around Rs 500 crore. Coupled with the boom in the Indian fashion industry and growth of the television industry, most women are now keeping a range of colour cosmetics shades to match every dress, mood and occasion.

Lip products commanded the bulk of colour cosmetics sales, with a value share as high as 58 per cent, nail products accounted for close to 19 per cent, facial and eye make-up sharing the remaining sales, he added.