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AO Smith expands its presence in India with the launch of new Water Purifier segment in Mumbai
NYSE listed AO Smith, the $2.8 bn American MNC, and a renowned player in the water heater sector, is all set to venture into its new segment of water purifiers
Mumbai: NYSE listed AO Smith, the $2.8 bn American MNC, and a renowned player in the water heater sector, is all set to venture into its new segment of water purifiers with the launch of new products in the Mumbai market. The company plans to launch the water purifier product across 17 cities in the country, with Mumbai playing a major role in the launch plan.
The water purifiers market in India is pegged at about Rs. 3,000 crore and it is growing at 25% every year. With state-of-the-art technology, exclusive patents in the segment, and a 30% growth in its reverse osmosis (RO) water purifiers range, the company’s unique selling proposition (USP) is 100% purification and expects to reach the target audience, in both commercial and residential in the new segment.
“Mumbai is a significant market for our growth in India, and we are extending our services in water purifier market in the city to tap the right customers and ensure quality water to the consumers. With cities expanding at a rapid scale, pure drinking water is a necessity and has become the need of the hour. While there is stiff competition in the water purifier segment in the industry, our services, technology and quality will help us stand apart and drive our growth in the sector as well as in India”, said Mr Parag Kulkarni, MD, AO Smith, India.
A O Smith Corporation, which became the first water heater company from the US to enter India in 2008, has invested USD 75 million in India so far. AO Smith’s business grew 8% globally last year while India revenues increased in high double digits with a turnover of over Rs 130 crore in 2016-17 in India.
