Pilot Pen, the well-known pen brand in the premium functional category on Monday announced its entry as a sole entity in India and dissolved its partnership with a popular Indian brand of writing instruments.
According to Hiroki Kisaichi, MD PPIN, Pilot has invested about USD 85.5 million in setting up the new manufacturing unit in Manesar.
By emerging as the sole entity in India, the company’s idea is to create awareness about the brand which will help it to tap the smaller markets as well. Other than the distributors as a major revenue model for the brand, the company will have full control of the marketing, inventory management, advertising, public relations, sales & manufacturing which will help for growth in the longer run.
The brand’s current distribution network is around 60,000 and the target is to touch approximately 1,00,000 in the next 1 to 1.5 years.
“Our main agenda is “The complete focus of the company is on safety, quality, and efficiency, with our wide product line we are sure to enhance the quality of writing and provide a seamless experience to its Indian customers,” said GP Srivastava, VP- Sales & Marketing, PPIN.
While talking about the company’s current focus, Srivastava revealed that Friction, one of Pilot’s pens offering, has seen tremendous success globally, contributing to the highest turnover in the company in Japan and replacing wooden pencils in France.
“Friction, is a popular global product and has the potential, we plan to focus on this product to tap into the premium functional pen market,” he said.
The company has a positive outlook towards its growth and it is targeting Rs 100 crore revenue for the financial year 2023-24. Also, Pilot is planning to allocate 12-15 per cent of the budget to marketing efforts to support its expansion and reach more customers.
Their expansion plan includes the expansion of the localized product range, which will be complemented by increased sales and distribution in untapped regions in India.