Asian Paints is the leading paint manufacturing company in India. Thus, the company was already looking for some changes in the market for further growth. Neo Bharat Latex is the new paint segment from the company’s side. We will share details about Asian Paints’ new product segment below. The company is going to target consumers looking for paints in affordable ranges. As we all know urbanization leads to more and more people coming alone for work to live in the cities.
Asian Paints Launches New Segment Of Neo Bharat Latex Paint In India Under An Affordable Range
Asian Paints will launch a new segment of Neo Bharat Latex Paint in the industry. It will be available in the affordable price segment making it reach a wider audience. There will be around 1,000 shades from which the customers will be able to choose their favorite shade. Cricketer Virat Kohli is going to promote the brand as a brand ambassador.
The company took the initiative to maintain its position in the market. As we all know the market gets a new launch by Aditya Birla Group’s Grasim’s Birla Opus Range. The company’s products are in high demand and more people are taking the initiative to make it bigger. However, they are still the second largest. The first position is with Asian Paints only.
Apart from Birla’s new range, there is also Pidilite Industries which took their step forward in the decorative paints industry. Thus, there is a need for the company to develop more and more variety for its customers to sustain its top position in the market. The company realizes the needs of today’s consumers.
Due to the increasing urbanization, there’s a need for more affordable decorative paints in the market. As the people coming to cities struggle to look for cheaper options in housing. Therefore, there is a big scope in the industry. Asian Paints launched the Neo Bharat Latex Paint on 15 April 2024, Monday.
Thus the new players are bringing more choice and competition in the market. The sector is one among the most growing in the country. Virat Kohli will be seen in the advertisement for the Neo Bharat Latex Paint. As he is the brand ambassador of the company. Latex Paint will cater to the low-to-moderate budget segment.
Asian Paints is maintaining its top position in the market. We hope you get enough details about Asian Paint’s new segment launch above.