Eureka Forbes Ltd plans to introduce high-end purification products in its new Aquaguard model called Reverse Osmosis priced at Rs 14,000. This is double the price of its existing Aquaguard water purifiers in the Indian market, Eureka Forbes Ltd vice-president (sale and marketing) SK Palekar told FE.
Mr Palekar explained that Reverse Osmosis will actually change the taste of water by removing inorganic chemicals along with turbidity, smell and bacteria. The company believes that it will be useful in areas such as Mumbai (Vasai and Virar), Gujarat, Andhra Pradesh and Uttar Pradesh where people use ground water instead of surface waters.
At present, the company has test-marketed Reverse Osmosis in places including Ahmedabad, Noida, Agra and parts of Delhi, and will soon be rolling out this product nationally over the next two months, he informed.
Further, in sync with the trend, the company has also launched the Euro Value Financial Scheme with six monthly and yearly schemes to attract customers to buy Eureka Forbes products. According to Mr Palekar: During the first year, we hope to sell around 25,000 Reverse Osmosis units. We hope to garner 20 per cent sales from this finance scheme.
The company is also planning to capitalise on its relationship with four million households who own Eureka Forbes products. As part of the strategy, the company is planning to roll out six products (for floor, glass, bathroom, utensil, de-greaser and metal polisher) under the cleaning solutions brand name called Eco-Friend in order to retain and add value to its existing customers. In this segment, Eco-Friend will compete with Hindustan Lever Ltds Domex which is meant for multi-purpose cleaning, informed Mr Palekar.
The company is planning to move into the steam-cleaning segment by way of launching new Ultima range of vacuum cleaners across the country. Prior to the move, the company has test-marketed this product in Pune and Ahmedabad. We hope to sell around 15,000 units of Ultima vacuum cleaners in the Indian market within a year, he informed.
According to Mr Palekar, with the new initiatives, the company hopes to grow its sales turnover from Rs 430 crore to Rs 500 crore.