Sanitaryware manufacturer HSIL Ltd on Tuesday forayed in the air-purifier segment under a new brand called “moonbow”. The company said it is also in the process of launching its water purifiers by February in collaboration with the Marmon Group.
Sandip Somany, Joint Managing Director, HSIL Ltd, said this is a strategic diversification for the company as it complements the existing business and is a segment that offers huge potential with latent demand.
“We aim to garner a market share of about 10-15 per cent in the next three years,” he said.
The air-purifier segment, which is currently at the nascent stage, is estimated at ₹400-450 crore and growing at 40 per cent.
“Given the growing awareness regarding air pollution, we believe the air-purifier segment is set to grow exponentially. While the awareness levels are high in urban regions, we believe demand will also start coming from tier-1 cities and towns,” Somany added.
The company which has launched three models price starting at ₹12,990-₹34,990, believes it has got its pricing right.