Havells India will start selling small home and kitchen appliances from July, hoping to profit from a Rs 5,200-crore market currently dominated by Philips, Panasonic, Morphy Richards and Bajaj. Havells' product line-up will include mixers, irons, hand blenders and cooking and brewing appliances. Havells will outsource 70% of manufacturing to local vendors and the rest to its partners in China , where its design centre will be responsible for developing the products.
The company, 30%-owned by QRG Enterprises, plans to invest Rs 70 crore in marketing its small appliances range over the next two to three years. A part of investments will also go into research and development. Sales of domestic home appliances are growing at 15-18% every year. Premium appliances, which contributes a fifth to the total market, are growing even higher at 30-35%. The products would be priced competitively and will be comparable with those of Philips and Panasonic. Some other prominent players in the segment include Usha and Maharaja Whiteline.
Havells products will be initially sold in top 40 cities through some 4,000 outlets retailing electrical goods. The products will also be sold through 115 exclusive Havells Galaxy stores, which will be increased to 200 by the end of this financial year. The company also plans to export its products to Latin America and Thailand using the distribution channel of Sylvania, which it bought in early 2007. This acquisition had catapulted Havells into the top league of lighting equipment makers, behind Philips, Osram and GE. crackcrack| Company Name | CMP |
|---|---|
| Havells India | 1255.00 |
| Siemens | 3835.00 |
| Apar Inds | 12390.40 |
| ABB India | 7279.50 |
| Waaree Energies | 3152.00 |
| View more.. | |
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