“The company plans to increase its presence in this specific segment given rising demand fuelled by the Covid pandemic,” Luxor said in a statement.
Luxor Group executive director Pooja Jain Gupta said in the statement: “Nanotechnology offers enormous benefits in terms of safety and stability; we see this technology as a gamechanger in the health and hygiene sector.” Globally, nanotechnology is gaining prominence across product categories since it’s recognised as a high-efficacy product.
Luxor, which debuted in India in 1963, claims a share of 15% of India’s writing instrument market.
As many as 9,700 products and variants entered the Indian fast moving consumer goods market between April-September this year, the highest ever spree of new product launches, 35% higher than a year-ago period, data by market research firm Nielsen said. Almost all the launches have been in the space of health, hygiene and immunity-boosting.
Read the original article on The Economic Times.