Luxor Writing Instruments Pvt Ltd, which makes pens for international brands like Pilot and Parker in India, said on Monday.
NEW DELHI: Luxor Writing Instruments Pvt Ltd, which makes pens for international brands like Pilot and Parker in India, said on Monday it is setting up a new unit at an investment of Rs 40 crore to raise production capacity.
The company has also tied up with Reliance Retail for setting up 'World of Luxor' stores that will offer the entire range of writing instruments, stationary and gifting accessories within Reliance's 'Time Out' outlets.
"With the new facility at Uttarakhand, which is likely to get operational early next year, the production capacity will go up from three million pens to four million pens per day," Luxor Group Executive Director Pooja Jain said.
However, she said it was not yet decided whether the new unit will make pens for the mass market or the niche segment.
The company currently has six manufacturing units -- one each in Noida, Gurgaon, Haridwar and Mumbai and two in Delhi.
The unit in Noida caters to over 75 export markets of the company across the globe and contributes Rs 80 crore to the total turnover of Rs 300 crore of LWIL.
"In the next year, the target is to achieve an export turnover of Rs 100 crore, while domestic sales are expected to grow by 15-20 per cent," Jain said.
On the company's tie-up with Reliance, Jain said: "A large footfall engaging with our brand in an environment tailored to suit our category will create a lasting impact on the consumers' experience with the brand Luxor."
Luxor is even open to other companies for opening its 'World of Luxor' or the 'Signature' store formats to enhance its retail presence. It also plans to open over 100 company owned 'Signature' stores across the country in next year at an
investment of around Rs 100 crore.
The company, which had launched notebooks and notepads last year under the Luxor brand, will add another category of file and folders in near future to its product portfolio.
The Luxor Group, with interests in broadband, hospitality and real estate, has an annual turnover of Rs 1,000 crore. Of this, the writing instruments business constitutes more than Rs 300 crore.
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