luminous Power Technologies on Wednesday launched its new brand ‘Amaze’ to tap the unorganised market of batteries in India. Nearly 40 per cent of the battery market in the country, consisting of local manufacturers, is unorganised.
The company also announced signing on Indian Skipper Virat Kohli as the brand ambassador for Amaze. Announcing the launch of brand Amaze, Vipul Sabharwal, Managing Director, luminous Power Technologies, said, “luminous has about one-fourth share in the battery market for residential power back-up. We have been growing at around 12 per cent each year. Our experience in the sector has led us to believe that the consumers of the unorganised battery market, which is estimated to be around Rs 3,500 crore, need to be re-directed towards the organised market. Our new brand Amaze aims to achieve the same.”
luminous will invest around Rs 150 crore in the next 3-5 years to build brand Amaze, set up dedicated manufacturing capabilities and create a separate sales and distribution network pan-India.