MULTI-LEVEL marketing firm Gamat eMas Sdn Bhd (GESB) aims to break the domination of the health and beauty products market by international companies with the introduction of its latest product, "Femmina".
Femmina contains phytoestrogen, which is a combination of three herbs - pueraria mirifica, labisia pumila and asparagus racemosus - sourced from Thailand, Malaysia and India respectively. It does not contain any form of chemical.
Company founder and executive director Dr Syid Ayob Syid Mustafa Al-Qudri expects the product, which will be marketed by its 55,000 members and 380-odd stockists, to contribute 10 per cent to its targeted RM14 million revenue next year. It achieved over RM11 million in sales last year.
"Femmina is the first such health and beauty product produced by GEDB, specifically for women. We spent two years on research and development and expect it to be the bestseller in our product range," Syid Ayob said.
GESB, a 100 per cent local Bumiputera company, founded in 1999, has 23 products in its portfolio, 21 made from sea cucumber extract.
Syid Ayob told Business Times after launching Femmina in Seri Kembangan, Selangor, last Saturday that GESB is planning to develop four new products next year containing extracts of sea cucumbers, despite a slower economy.
It aims to gain from a larger share in the natural products industry for sea cucumber, which is worth RM100 million to RM300 million a year. Its share currently is 10 per cent.
Syid Ayob said the company is looking for new markets for its products and plans to penetrate India and Europe in two years. It has enquiries from Taiwan and hopes to start selling there by next year.
Currently, its products are sold through distributors in Indonesia, the Middle East and the Philippines.
GESB aims to increase its membership base by 15,000 next year.
"Multi-level marketing is a lucrative business and involves minimum capital and risk. By outsourcing the manufacturing of our products, we are able to keep cost low. So we definitely will be growing next year," Syid Ayob added.