Writing instruments major Luxor aims at becoming a Rs 1000 crore company in the next 3-5 years and to grow its market share from current 22 per cent to 30 per cent in its operating industry segments, said Pooja Jain Gupta, Managing Director of the company in an interview with Sangeetha G.
1) In the past decade, what are the major trends that have been shaping the writing instruments market?
The writing instruments industry is an evolving industry in India with new products being introduced almost every year for both students and professionals. The industry has evolved from basic writing instruments like pencils and pens, to include a variety of product categories ranging from markers, highlighters, fine-writers, etc. which have witnessed significant growth in recent years.
Consumer needs have evolved from merely writing to now expression and creativity, which has fuelled a variety of new products. With greater focus on holistic learning for children, this is expected to continue.
Corporate gifting is another growing area where premium writing instruments are a valued gifting option. We are also doing customization and limited editions in many of our premium offerings, and we expect this trend to also continue.
Among modes of writing instruments, the roller ball liquid ink segment has been witnessing high growth and will be a focus area for us also as we move ahead.
In terms of international business, India is emerging as a manufacturing hub for global companies and markets, offering good quality and cost-efficient production and raw materials.
At Luxor, we are already leading the industry in many of these areas and have made proactive investments to continue our growth.
2) How has the overall growth in the writing instruments in the past three years?
The writing instruments industry has been growing at an estimated 7-8 per cent over the last few years. Financial year 2022-23 has seen recovery after the two Covid years which were challenging. The outlook ahead is positive given the growing young population in India, increased focus on education through government and private initiatives, and rising incomes especially in urban areas. Indian consumers are today seeking the best in the world and this will lead to many new brands and products getting introduced in the market.
3) Which are the major revenue earning segments and how is the growth in these segments?
Post Covid, once workplaces reopened, we have witnessed a significant revival in the office-centric products like markers, highlighters, etc. with double-digit growth rates. Among writing instruments, the liquid ink roller ball segment has been growing ahead of the industry in the last few years.
4) Which are the new emerging areas that hold a potential of higher growth?
The creative and colouring category is an area with promising growth ahead. This space is expected to see many new brands and products getting introduced over the next couple of years.
5) Tell us something about your partnership with Schneider Pen and the synergy that you find in it?
We are pleased to partner with Schneider Pen, Germany and believe this is the coming together of two companies with similar values and journeys. Luxor has completed 60 years since inception in 2023 and grown to be a leader and pioneer in the Indian writing instruments industry. Similarly, Schneider has an 85-year heritage of excellence in writing technology and is widely recognized for its product quality, design and sustainable development in all its business practices.
This exclusive co-branded partnership between us in India brings together Luxor’s brand equity, manufacturing capability and distribution strength with Schneider’s technological expertise and world-class writing products range. Together, we aim to introduce 20 new products for Indian consumers over the next couple of years.
While Luxor gains from Schneider’s expertise in technology and sustainability, Schneider gets access to the emerging Indian consumer market via Luxor’s established market strength. Going forward, we will also explore greater supply chain synergies and how Luxor could provide sourcing and manufacturing support to Schneider Pen.
6) Which are your other partnerships?
We have partnerships with global brands like Parker, Waterman and Pilot, which we introduced to the Indian market. Besides, Luxor is also a registered trademark in 106 countries globally. We have partnerships with many leading global retail brands for whom Luxor is a significant and trusted supply partner.
7) Where do you see yourself as a writing instruments company in the next five years?
We aim to be a Rs 1000 Crore company in the next 3-5 years and grow our market share from current 22 per cent to 30 per cent in our operating industry segments. This is being planned through strategic partnerships, new product launches, manufacturing scale-up and higher sales and marketing investment.
