LG eyes double digit market share in water purifier segment

South Korean consumer goods maker LG is betting big on its recently entered water purifier segment in India and expects to garner a sizable share in the estimated Rs 2,600 crore market.

"Looking at response of the consumers and features which we are providing, we are expecting a double digit market share by the end of next year," LG Electronics India Business Head Rajeev Jain told PTI.

Right now the total market size of organised water purifier is at around Rs 2,600 crore and is estimated to cross Rs 3,000 crore next year, he added.

The company had introduced premium purifiers three months ago at 40 outlets of Delhi NCR and Bangalore priced in the range of Rs 22,990 to Rs 44,290.

Jain said that in order to meet the robust demand of the new product, the company has also flown in additional consignments from the parent's plant in Seoul.

Eureka Forbes, Kent Ro, Electrolux are some of the key manufacturer in the Indian water purifier market.

At present, LG India sells six models and more would be added, Jain said. These models are available at select outlets and the company plans to make them available at 750-800 stores by the end of this year.

"Now slowly we are expanding after setting sales service. By the end of this month, we are expected to reach 400 outlets," said Jain.

He said LG India may also consider a partnership with real estate players to supply water purifiers in apartments.

LG imports its RO purifiers from its Seoul plants and would only consider local manufacturing if volumes pick up.