Livpure, renowned for appliances such as water purifiers, is seeking to bolster its presence in the overall kitchen space. Following the recent launch of chimneys, the company’s next strategic move involves expanding its footprint in the built-in appliances segment. Overall, Livpure anticipates ending FY24 with revenues amounting to about INR 650 crore.
Continue Exploring: Livpure steps into kitchen space, introduces chimneys for clean and healthy cooking
Rakesh Kaul, Managing Director, Livpure told said, “In the April-September period of FY24, which is the first half of the fiscal, we have grown by around 50 per cent in terms of revenue and our business has become EBIDTA positive. In October too, we saw a strong growth of nearly 121 per cent compared with same month last year.”
He stated that the expansion was aided by the firm’s emphasis on a more refined product mix, digitisation, and the increasing subscriber base for its WAAS business (Water Purifiers on subscription).
“The water as a service business is a critical vertical for us and we saw over 100 per cent growth in this segment. We now have a subscriber base of close 2,00,000 consumers, who are using water purifiers on a subscription basis. We have also increased our gross margins in the water business and addressed various gaps in terms of distribution and in terms of price points in this segment,” he said.
The company is also exploring entry into diverse market areas. It is enhancing its position in the air cooler segment and has recently entered the chimney space.
“We have seen strong response for our chimney range on e-commerce. Even in the air cooler space, we saw very strong growth despite a challenging summer season,” he added.
“In the post Covid times, kitchen as a space has been revitalised. New age appliances which are adding the dimensions of convenience are getting added to the consumers’ kitchens. So we believe the growth opportunity in the overall kitchen space in terms of innovations is very strong. We believe because of the strong brand affinity, Livpure has the ability to become a pre-eminent player in the overall kitchen space,” added Kaul.
“We are also looking at strengthening our retail footprint and have 25-30 exclusive stores which will have our entire range of large kitchen appliances and water purifires in the future,” Kaul stated.
Responding to a query on revenues, Kaul said, “Overall we are targeting a growth of 75-80 per cent in this fiscal which will take us closer to INR 600-650 crore in terms of revenue.”
