The Hindu Business Line : Videocon adding 9 new refrigerator models

New Delhi, March 14 Consumer durables major Videocon Industries is bracing up for the summer with at least nine new models in the refrigerator category. The company is targeting a 15 per cent market share and has earmarked Rs 8 crore towards marketing and promotions for the quarter.

“The refrigerator industry has shown an upward march and has shown a 10 per cent growth last year. We are adding nine new models to our present range of 32 to cater to the buoyant market requirements,” Mr Jyoti Shekar, Vice- President, Marketing, told Business Line.

Currently, the refrigerator demand in India is estimated at 4.6 million units. Refrigerators alone contribute to Rs 265 crore to the total turnover of Rs 2,500 crore for Videocon.

He said the company has clocked a 23 per cent growth in the refrigerator category last year. “This year, Videocon is looking for 15 per cent market share in the frost-free category and rest in direct cool segment”.

Stating that the untapped rural market will be a dominant market for the company both in the frost-free and the direct cool segments, Mr Shekar said the company hopes that at least 25 per cent of sales will come from this market.

On its new product line, he said the company has invented in crisp cooling technology for frost-free refrigerators category besides tying up with Café Coffee Day and Dominos in southern India for refrigerators.

Café Coffee Day and Dominos are among the institutional buyers. Institutional sales contribute as much as 8 per cent of the business.

Observing that in the last few years the trends in consumer buying patterns show a shift of the entry level segment from 165 litres to 180 litres, he said the company has introduced a 190 litre series to add to the customer preference.

Besides new colours and aesthetic design, the company has also devised energy efficient models.

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