NEW DELHI: Luminous Water Technologiesis looking at strengthening its position in the organised water purifier market with launch of 2-3 products in this fiscal.
At present, the company -- with its water purifier brand Livpure -- has six products in its product portfolio.
"Our product portfolio is not complete. We will launch 2-3 products this year to strengthen our market position. We already are number three player in the organised water purifier market," SAR Group Chairman Rakesh Malhotra told PTI.
Luminous Water Technologies is part of the SAR Group, which has interests in various sectors including telecom and electricals.
Malhotra described Eureka Forbes and Kent RO as its nearest competitors in the water purifier business.
The company will soon launch an affordable reverse osmosis (RO) based water purifier priced Rs 9,900.
"We want to offer multiple products to our customers at different price points and customer needs. Other products that we would launch will target high-end, niche customers," he added.
The RO water purifier market is expected to be around Rs 2,000 crore.
The company, which started operations in September 2012, is targeting turnover of Rs 170 crore in the current fiscal.
Luminous, which has roped in Sachin Tendulkar as brand ambassador, has set aside Rs 300 crore as advertising and promotion budget for the five years.
"We have advertising budget of Rs 300 crore to be spent in five years. We have a long term association with Sachin and he will continue to be our brand ambassador," Malhotra said.
Luminous, which has current production capacity of 2.5 lakh units at its plant in Himachal Pradesh, is also planning to increase the number of Livpure service centres from 110 to 400 by this year.