Direct selling company Amway India is looking to deepen its presence in the consumer durables space.
In an interaction with Moneycontrol, Ajay Khanna, Category Head-Wellness, Amway India, said that the company is eyeing a 20 percent market share by 2020 in the air purifier category with sales of Rs 100 crore in the next 12-18 months.
On September 24, Amway India launched the indoor air purifier Atmosphere Mini. This was their entry into the home air-purifier category after their last year’s entry into the car-purifier space. The company had Rs 30 crore business from the car purifier space and has about 8-10 percent market share.
The air purifier market in India stands at Rs 312 crore in 2018 and is expected to register a CAGR of over 24 percent over the forecast period 2018-2023. The market size of the air purifier industry is estimated to reach Rs 896 crore by 2023.
"Our home air purifier has been specially launched for the India market. Since the room-sizes in India are smaller, we have customised the product for the country. Depending on its success, we will launch this product at other markets," said Khanna.
He said that the air-purifiers segment is not just restricted to the Delhi-NCR region, but is also there in UP, Bihar, Maharashtra, West Bengal and Rajasthan apart from Delhi-NCR.
"Air purifiers are no longer a regional or a seasonal category. The South is also upcoming market. Our idea is that while our product category is the premium segment, we would want to offer an affordable solution going forward," Khanna added.
Apart from the air-purifier category, Amway India is also present in the cookware space in India. Khanna explained that the company has touched Rs 100 crore in revenue in this space and said that they will be adding newer products to the portfolio.
In terms of segments, Amway is also present in the water purifier space globally. However, Khanna said that they don’t have an immediate plan to enter this segment.
"We were present in the air purifier segment for almost 30 years but we entered India right now since we waited for the right timing and appropriate product. Similarly, water purifier product requires an intensive service network. Also, the character of water is very different across different locations and it cannot be a one-size-fits-all. We are studying which are the markets we could sell it in India," added Khanna.
He further said that they will launch this category once they are able to get the right product for the Indian market. This, said Khanna, could take about five years.