Electrolux, the global home appliances brand, has licenced Morf India to market Kelvinator Ayoni water and air purifiers in India. For this the company is also looking at a venture capital funding of Rs 10 crore.
The step has been taken to grow the Indian presence of Electrolux products and the licence is for five years which can be further extended.
Launching the Kelvinator Ayoni water purifier here, Morf India's managing director M.V. Praveen said "In the first year we plan to sell 35,000-40,000 units. By the end of this fiscal we will market our products in all tier I Indian cities."
Morf India would pay Electrolux a royalty, as also bear the expenditure on marketing both products.
To start with, Ayoni will be the first product to be marketed during this fiscal. While during next fiscal the focus will be on air purifiers.