India Seamless group, a Pune-based small aircraft manufacturer, has make inroad into consumer lighting business by a new subsidiary LightO Technologies which aims to penetrate the markets in India, Sir Lanka, Bangladesh and Nepal.
Rajiv Goel, chief financial officer of Indian Seamless group, has disclosed that, “We have launched more than 100 products under Lighto brand in LED and decorative lighting, compact fluorescent lamps category in the Indian market.” and Goel said the lighting product range starts from Rs 90 and goes up to Rs 18,000.
The Rs 2,000 crore group’s Taneja Aerospace and Aviation and ISMT firms are listed while Structo, Taal Technologies and Tridem Port and Power are privately held.
The firm has entered into a technical and commercial collaboration with Hong Kong based Optiled Lighting International. LightO plans to set up its own manufacturing plant in India by the end of 2014. At present, it will source lighting products from a group of vendors who will manufacture according to its designs.
“We have found a right partner to enter the growing lighting Indian market,” said Sun Tam, chief technology officer at Optiled Lighting International, which sells its products in over 30 countries. “Starting with Maharashtra and Gujarat, we plan to cover 30 key cities by the end of 2013,” said Naveen Saxena, CEO at LightO Technologies. Exports to Sri Lanka, Bangladesh and Nepal will start in 2014, he added. The firm is targeting sales revenues of Rs 100 crore by the end of financial year 2015.
Saxena said the firm had also launched ‘LightOzone’, an experiential centre in Pune spread over 1,100 sq ft space to give customers a touch and feel experience of a diverse range of its consumer lighting products. The firm plans to launch 30 such zones across India by the end of financial year 2013.