Consumer electronics major Panasonic India, which today launched seven new models of air purifiers, is aiming to sell over one lakh units in the next five years.
The company is aiming to grab number two slot in the air purifier segment in next two years as the market is developing on account of growing air pollution and increasing awareness.
"I am expecting at least 10 times growth in next five years. By FY 2020-21, we would sell over one lakh units and would have a sale of Rs 150 crore," Panasonic India General Manager - Purifier Business Syed Moonis Ali Alvi told PTI.
"We are expecting to be the number two player in the segment. Presently we are number three in the air purifier category," he said further.
Last fiscal, the company sold 5,000 units and this fiscal, it is aiming to sell around 20,000 units.
The company is spending around 30 per cent of its sales revenue back in the market in marketing and branding as the segment is new and developing.
"We are spending this money on digital, TV and print media and creating experience zone," Alvi added.
Besides, the company is also expanding its retail presence and is considering adopting direct sales system to reach out to customers.
"For direct sales we are looking to hire certain agencies which are expert in door-to-door demonstration and sales to customers," he said.
Alvi said online sales contribute around 40 per cent sales volume in the segment at present.
"It would come down in five years as the contribution from other channels would go up. Presently, traditional channels are limited but as we move ahead, more and more number of outlets would join us," Alvi added.
Panasonic's new new range is available with two types of air-filters - HEPA Composite and Composite Air Filter and is priced between Rs 11,995 and Rs 34,995.
Presently, the company imports its range of air purifiers from its Hong Kong-based unit, but may consider setting up domestic production/assembling unit after the volume picks up.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)