Bangalore, August 12, 2024: A. O. Smith Corporation (NYSE: AOS), a leader in water heating and water treatment, completes its 150th anniversary globally, focused on A. O. Smith’s rich history, the people who have helped it thrive, the innovative transformations that brought it to today and the promising future ahead.
According to a statement “Smith India, set up in 2010, is among the fastest growing geographies within the A. O. Smith corporation, beating major markets and having a pan-India presence. A.O. Smith has been driving the category growth, at a greater pace than the market in both water heater and water purifier categories and is one of the leaders in the premium segment. A. O. Smith products have a wide distribution reach catering to customers across metros, tier 1, tier 2, and tier 3 cities through general trade, modern retail, and E-commerce channels. The company now plans to further drive and expand its distribution presence much deeper into small towns.”
“A.O. Smith offerings are premium & differentiated and have many industry-first innovations both in water heater and water purifier categories. Our products are not only innovative but also responsible and sustainable. We have been able to register strong double-digit growth in the Indian market over the years. Our new products have helped to redefine benchmarks in water purification and water heating categories and helped us gain market share. While we are strongly present in retail outlets, sales from e-commerce in the country have also gone up as part of the total business. We will continue to innovate and build on the trust earned, in the years to come,” said Parag Kulkarni, Senior Vice President, International & President, A. O. Smith India Water Products Private Ltd.
The company’s reporting is on a calendar year basis (Jan – Dec). In 2023, A.O. Smith India business grew by over 15% compared to the previous year. India sales also increased 16% in the second quarter of 2024 driven by continued strong demand. A. O. Smith’s focus is always on introducing superior design and aesthetics, enhancing convenience, and integrating cutting-edge technology features to meet the evolving expectations of consumers in a thriving market.
Consistent with its long-standing strategy to grow through acquisitions and further penetrate high-potential markets, A. O. Smith signed an agreement recently to acquire Pureit from Unilever for $120 million, subject to customary adjustments. Pureit, a leading water purification business in South Asia, offers a broad range of residential water purification solutions and has annual sales of approximately USD $60 million, primarily in India. The acquisition fits squarely in the company’s core capabilities and doubles the company’s market penetration in South Asia.
“The Pureit brand, known for innovative water purification products, strong brand recognition and dedication to customer service, complements A. O. Smith’s geographic and channel presence. The Pureit team’s deep understanding of consumer needs and water treatment expertise adds tremendous strength to A. O. Smith in India and we look forward to welcoming the Pureit team to the A. O. Smith family,” added Parag.
From bicycles and baby carriages to water heating and water treatment solutions, A. O. Smith’s unwavering commitment to integrity, innovation and customer service has remained unchanged. Today, A. O. Smith is a leading global water technology and manufacturing company that improves the lives of its customers by ensuring access to clean, safe, hot water.
“India is a key investment market for A.O. Smith and have a long-term view on the India market. Our expectation from the India business is to continue growing at the current double digit growth rates, which would then increase India’s contribution, overall, to A.O. Smith’s global sales,” said Parag.
The celebration of 150 Years legacy will go on through 2024 and the theme for the same is “Where water flows – our legacy grows!”. Throughout the year, A. O. Smith locations across the globe including India will honor the sesquicentennial anniversary with unique events celebrating employees and the communities where A. O. Smith does business the statement added.
