Amway launches Singapore Business Innovation Hub to accelerate health and wellness innovation

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 specifically. AsiaSupported 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). It is a sign of strategic development. .

Amway provides access to its health and wellness brands and empowers individuals through business opportunities. Singapore For over 20 years, and counting Asia For nearly 50. The new center will allow Amway to move in of Singapore A rich talent base accelerates and supports product innovation for Amway globally – to meet the evolving healthcare needs of global and regional consumers, and to act as a springboard for the company’s next phase 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, procurement, and strategy and corporate development. These teams will focus on scientific discovery and innovation development, Partnering with leading institutions to expand understanding of health and the human body, adopting an “East meets West” approach to healthy aging and longevity, and leveraging technology to design products that enhance people’s personal Meets health needs.

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Amway’s business innovation center represents a significant and exciting investment Singapore As it aligns with our strength as a global technology and innovation hub,” he said Sandy Koh, Executive Vice President of EDB. “We look forward to setting up Amway Singapore Creating solutions for the region and abroad, and creating better job opportunities Singapore and Singaporeans.”

The launch of Amway’s Singapore Business Innovation Center marks the growing demand for tailored health and wellness solutions to meet. of Asia Rapidly evolving demographics and consumer expectations. Final studies project by 2025, Asia will be home to 456 million adults aged 65 or older, representing 10% of the population and growing by 14% by 2021[1]. Meanwhile, recent research points to a tipping point in consumer expectations accelerated by the COVID-19 pandemic – with 80% of consumers showing interest in health care and lifestyle changes, and nearly half of Willing to spend more out of pocket. Get better health results and experiences[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 just 70% two years ago.[3].

“The Singapore Business Innovation Center has been established, and is strategically positioned to accelerate problem solving, drive our business and leverage cross-functional expertise to deliver products that meet the evolving needs of local and global consumers. Well-being meets the needs,” said. Asha GuptaAmway Regional Director, Asia and Director of Strategy and Corporate Development. “Amway is a magnet for entrepreneurs; and the teams at the center will help our Amway Business Owners (ABOs) advance our global commitment to advance the health and wellness needs of consumers in this exciting region. ”

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Leveraging the newly launched Innovation Center, Amway scientists, technologists, marketers, supply chain and agriculture experts will work together with leading institutional partners to develop deeply personalized health, wellness and technology solutions. Targeted customer expectations, driven by rapid adoption of digital during Covid. – 19 pandemic. The center will also allow for additional capacity building 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 help The company continues to succeed. Billions of people around the world are achieving their business, health and wellness goals.

Amway’s Nutrilite brand, the world’s best-selling brand of vitamins and dietary supplements, will account for 53% of the company’s total sales in 2021 and continues to gain market share. Asia, reflecting her commitment to health and wellness, and success in the industry. Amway’s growing team in it Singapore Amway will be empowered to support innovation globally, and leverage cutting-edge technology and science to develop programs, strategic partnerships, and product solutions that address consumer issues including immunity, weight management, and holistic wellness. Participants meet health and lifestyle goals.

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Amway Singapore operations started in 2002. This 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 an entrepreneur-led health and wellness company based in Ada, Michigan. It is committed to helping people live better and healthier lives – in more than 100 markets worldwide. According to Forbes magazine, it is among the top 50 private companies that are family-owned. United States. The best-selling brands for Amway are Nutrilite™, Artistry™ and XS™ Energy – all sold exclusively by entrepreneurs known as Amway Business Owners. Amway is the number one 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 Ecosystems July 2021, McKinsey & Company, www.mckinsey.com. Copyright © 2022 McKinsey & Company. all rights reserved. Reprinted with permission.
[2] Source: Bain & Company – Asia-Pacific Frontline Healthcare Report 2022
[3] Source: Bain & Company – Asia-Pacific Frontline Healthcare Report 2022
[4] Source: Euromonitor International Limited; Vitamins and Dietary Supplements, World GBN, Retail Value RSP, % Breakdown, 2020

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