New Delhi: SAR Group Tuesday forayed into the Rs.3,800 crore water purifier industry with the launch of its touch technology reverse osmosis water purifier – Livpure – and said it would invest Rs.500 crore by 2017 in the sector.
“The group is committed to investing Rs.500 crore to achieve Rs.2,000 crore in sales by 2017 in the water purification and related industry,” said Rakesh Malhotra, chairman, SAR Group and founder Luminous Power Technologies.
“The entire investment is sourced from internal accruals and without any external debt,” said Malhotra.
According to the company, out of the total corpus, Rs.200 crore would be dedicated to manufacturing and research and development processes, whereas Rs.300 would be invested in engaging the consumers with the Livpure brand experience and real-time touch points.
The group, which has strong foothold in telecom and electricals sectors, launched two models of the water purifier — Touch and Touch Plus priced at Rs.15,999 and Rs.16,999, respectively, under the aegis of its group firm Luminous Water Technologies.
Cricket legend Sachin Tendulkar, who has been associated with Luminous for over four years, was also named the brand ambassador for Livpure.