A Muruganantham, who ushered in an era of low-cost sanitary napkins with a machine he invented, is all set to launch his own international brand of sanitary napkins in January 2016, with an initial investment of Rs 75 crore.
Already partnered with two major brands in the sanitary napkin industry, A Muruganantham, who ushered in an era of low-cost sanitary napkins with a machine he invented, to launch his new venture.
The international brand is expected to hit the market in January 201 and Muruganantham has initiated the new venture with an initial investment of Rs 75 crore.
Confirming the news, Muruganantham said, he had submitted the documents for registration.
"I have submitted four names. Once we are through with the registration, we will decide on formal announcement," said he.
Muruganantham will own over 65 per cent shares in the company and also be in-charge of the management.
"I was approached by many people, but I partnered with companies that were willing to agree to my terms and conditions," Muruganantham, who sold his first machine in 2004 in Madhubani, Bihar.
"In 2004, when I sold my first machine, only around 5 per cent of women were using sanitary napkins. Today, it has grown to around 13 per cent. To be able to live my dream, I realized it is important to become a corporate. I aim to achieve my dream in the next 20 years. And, for this, I will need support from central and state governments, educational institutions and society," he further said.
Along with the launch of the new company, Muruganantham will also introduce his new sanitary napkin manufacturing machines.
"The machines will be available in two types -- power operated and powerless. The powerless machines are tailor-made for villages, where power supply is poor," he said. The machines will be designed in the US and manufactured in the country.
"I have got engineers from Pennsylvania to work on the design," said the Coimbatore-based entrepreneur.
Further, the school-dropout-turned-social-entrepreneur said the company would have its headquarters in Mumbai. "We have found a place in Nariman Point. We will have regional offices in Chennai, Delhi and Kolkata," noted the 52-year-old entrepreneur.
Additionally, he informed that the company will have 2,500 production centres across the country. The company will also have offices in Singapore and Dubai to cater to international market.
Muruganantham said he has so far sold 2,500 machines, besides supplying his products to 17 countries, including Kenya, Zimbabwe, Bangladesh and Ghana.
"At present, around 970 people are with me as volunteers and supporters in Coimbatore and other places. I will be hiring around 250 people for administration," Muruganantham said.