Asian Paints launched Neo Bharat Latex Paint on April 15, venturing into a new category of paint as robust growth in the sector driven by increasing urbanization, rising disposable incomes, encouraged existing players to tap into the booming demand and lap in more market share.
The company, which is the leading player in India, touts the new segment to being affordable, offering over 1,000 shades for consumers.
“Neo Bharat Latex Paint marks one of Asian Paints’ most significant launches to date. With this product, we are revolutionizing the industry by introducing a completely new category, making it more accessible to consumers across India,” said Amit Syngle, Managing Director and Chief Executive Officer, Asian Paints.
The company also onboarded cricket player Virat Kohli as the brand ambassador for new launch. “By penetrating the unorganized segment with a branded solution, we aim to expand the market and drive category growth as a market leader,” added Syngle.
Source: moneycontrol.com
