Syska is Investing Rs 150 cr. in its Second Plant in Maharashtra

LED lights maker Syska will advance about 150 crore to build its second plant in Maharashtra to create its new line of electric personal care products such as trimmers and electric razors.
Syska, which trades LED lights and lighting solutions and mobile phone accessories, targets to leverage its existing network of dealers to sell more than 30 grooming and beauty products.
“The electric personal care category is priced 2,000 crore and has a vast scope as it is growing at a healthy pace annually. We see an arcade as there are not numerous brands, providing end solutions,” Rajesh Uttamchandani, director at Syska added.
The corporation is confident of expanding the competitive market that is made up by global market front-runners such as Phillips on one end of the spectrum, and cheaper Chinese brands on the other. The company’s new product line would first be traded on Amazon exclusively for three months and then shops would instigate to stock these products. Celebrity authorizations will be used to establish the personal care trademark.
“Right now 30% of our manufacturing are in India, but we want to surge it to 70%. Our personal care product is a mega project and we will spend over Rs 150 crore,” he said.
He said Syska’s products would be 20-30% cheaper than those vended by market leaders, and would target young consumers. “To initiate with, we are getting products planned in Korea and manufactured it in Korea and China and importing to India,” Uttamchandani stated.