The Hub was launched in partnership with the Economic Development Board to serve as a springboard for product innovation to meet the evolving wellness needs of consumers globally and also uniquely in Asiabacked by science and technology
SINGAPORE, December 8, 2022 /PRNewswire/ — Amway, an entrepreneur-led health and wellness company, today announced the opening of its Singapore Business Innovation Center in the Central Business District in partnership with the Singapore Economic Development Board (EDB), marking its strategic expansion in the region the .
Amway provided access to its health and wellness brand and empowered people through entrepreneurial opportunities Singapore for more than 20 years, and was present in Asia for nearly 50. The new center will allow Amway to join The Singapore rich talent base to accelerate and support product innovation for Amway globally – to meet the evolving wellness needs of global and regional consumers, and act as a springboard for the company’s next stage of strategic growth. Asia.
As part of this expansion, Amway is adding approximately 60 new jobs in the areas of innovation and science, digital technology, data science, communications, acquisitions, and corporate strategy and development. These teams will focus on advancing scientific discovery and innovation, partnering with leading institutions to expand understanding of health and the human body, taking an “East meets West” approach to healthy aging and longevity, and leveraging technology to design products that meet people’s personalized wellness needs.
“Amway’s Business Innovation Hub represents an important and exciting investment in Singapore as it is aligned with our strengths as a global technology and innovation center,” said Cindy Koh, EDB’s Executive Vice President. “We look forward to Amway’s configuration Singapore to develop solutions for the region and beyond, and create good job opportunities for Singapore and Singaporeans.”
The launch of Amway’s Singapore Business Innovation Hub shows a growing demand for tailored health and wellness solutions to meet Asia rapidly evolving demographics and consumer expectations. Recent studies project that by 2025, Asia will be home to 456 million seniors aged 65 and over, representing 10% of its population and a growth of 14% over 2021.[1]. At the same time, recent research shows a tipping point in consumer expectations accelerated by the COVID-19 pandemic – with 80% of consumers indicating interest in health maintenance and lifestyle changes, and almost half of those willing to spend more in their pockets. get the best results and health experience[2]. The pandemic has also increased consumers’ exposure to technology and digital tools, with 90% of consumers saying they prefer a single touchpoint to manage their healthcare, compared to only 70% two years ago.[3].
“The Singapore Business Innovation Hub was created, and strategically placed, to accelerate innovative problem solving, drive our business forward and leverage cross-functional expertise to deliver products that meet the evolving wellness needs of regional and global consumers,” said say Asha GuptaAmway’s Regional President, Asia and Chief Strategy and Corporate Development Officer. “Amway is a magnet for entrepreneurs; and the team at the Hub will help our Amway Business Owners (ABOs) advance our global commitment to the growing health and wellness needs of consumers in this exciting region.”
Following the newly launched innovation center, Amway scientists, technologists, marketers, supply chain and agriculture experts will work together with leading institutional partners to address consumer expectations for health, wellness and deeply personalized technology solutions, driven in part by adoption digital acceleration during the COVID. -19 pandemic. The center will also enable the building of additional capabilities in the areas of digital product design, data science, live e-commerce, supply chain and logistics intelligence, and further support integration with Amway’s direct selling business model – to continue building on the company’s success in helping. billions of people around the world are achieving their entrepreneurial, health and wellness goals.
Amway’s Nutrilite brand, the world’s best-selling brand of vitamins and dietary supplements, accounted for 53% of the company’s overall sales in 2021 and continues to gain market share in Asia, which reflects his commitment to health and wellness, and success in the industry. Amway’s growing team Singapore will be empowered to support innovation globally for Amway, leveraging cutting-edge technology and science to develop programs, strategic partnerships, and product solutions that meet consumer health and lifestyle goals such as immunity, weight management and holistic wellness.
Amway Singapore operations were launched in 2002. The company is a member of the Direct Selling Association Singapore (DSAS), Consumers Association Singapore (CASE) and the Health Supplements Industry Association of Singapore.
About Amway
Amway is a health and wellness company led and entrepreneur based Ada, Michigan. It is committed to helping people live better, healthier lives – through more than 100 markets worldwide. According to Forbes magazine, it is among the Top 50 private companies owned by the family United States. Amway’s best-selling brands are Nutrilite™, Artistry™ and XS™ Energy – all sold exclusively by entrepreneurs known as Amway Business Owners. Amway is the No. 1 direct selling business in the world, according to the 2022 Direct Selling News Global 100 list. For company news, visit www.amwayglobal.com/newsroom.
[1] Source: McKinsey & Company – The future of healthcare Asia: Digital Health Ecosystem, July 2021, McKinsey & Company, www.mckinsey.com. Copyright © 2022 McKinsey & Company. All rights reserved. Reprinted by permission.
[2] Source: Bain & Company – Asia-Pacific Front Line of Healthcare Report 2022
[3] Source: Bain & Company – Asia-Pacific Front Line of Healthcare Report 2022
[4] Source: Euromonitor International Limited; Vitamins and dietary supplements, GBN World, RSP Retail Value, % breakdown, 2020
SOURCE Amway
