Hindustan Sanitaryware & Industries, which has entered the water and air purifiers market under the brand Moonbow, is planning to set up its own factory in the country.
Aiming to be among the top three players, the company is aggressively strategising to capture 12-13 per cent market share and target a sales turnover of Rs 500 crore from water purifiers business and Rs 120 crore from air purifiers over the next three years.
“The company is planning to set up a state-of-the-art factory in India to produce a range of water and air purifiers to aggressively tap this growing market in the country,” Rakesh Kaul, president and chief, consumer products business at Hindustan Sanitaryware & Industries told Financial Chronicle.
He said the company is working on a feasibility study and the new factory would be set up within two-three years without revealing estimated investments for the plant.
The Gurgaon-headquartered Rs 2,500 crore company has its own research and development team, which is working on several product portfolios to be launched over the next three years. It had entered the air purifier market in December 2015 and water purifier segment in August 2016.
At present Eureka Forbes, Kant and HUL are the dominant players in the water purifier market and Phillips, Sharp,Aero Guard in the air purifiers, among others, in the country.
At present the company sources its range of water purifiers products from third party manufacturers from Manesar in Haryana and Ahmadabad in Gujarat. Air purifiers are imported from China.
“The water and air purifier products market is expanding in India with many cities faced with the daunting challenge of accessing clear air and drinking water,” Kaul said. At present air and water purification market is mostly concentrated in metros and large cities, he said. “We will tap our vast pan-India distribution network to penetrate the metros, sub-metros and tier 2 markets and aim to capture a sizable market share,” Kaul said.
The company sells both Moonbow air and water purifiers on various e-commerce platforms such as Amazon, Flipkart, Snapdeal as well as brick-n-mortar outlets such as Croma, Reliance, Digital and Metro.
The Moonbow water purifiers in five variants such as Oceanus Premium, Oceanus, Achelous Premium, Achelous and Ezil with Hexapure technology are priced from Rs 12,999 upto Rs 26,990.
The five variants of Moonbow room air purifiers cost in the Rs 12,990 – Rs 36,990 price range.
The company had also introduced a Car air purifier, with a 4-stage claimed purification process, which removes almost all allergens, airborne contaminants and bad odour. It carries price tag of Rs 6,999.
Kaul said the estimated water purifiers market size is pegged around Rs 5,000 –Rs 5,500 crore and air purifiers at about Rs 300 – Rs 350 crore. “This market is seeing a huge growth in the country,” he said.