Kolkata, Dec 17
Khaitan Electricals Ltd has roped in Bollywood actor Karisma Kapoor as its brand ambassador. The company has entered into a three-year endorsement contract with Ms Kapoor, who will endorse the company's product range across different categories.
Addressing a news conference, the Vice-Chairman and Managing Director of Khaitan Electricals , Mr Sunil Khaitan, said endorsements of the company's products by Karisma came at a time when the company was rolling out the `Khaitan Fantasy' and `Khaitan City' retail chains.
Between now and March 2007, the company would open 22 exclusive company-owned Khaitan Fantasy retail outlets.
The Khaitan Fantasy retail outlets would showcase and sell only designer fans priced in the Rs 5,000-1,00,000 range.
Mr Khaitan said plans had been firmed up to put in place 200 Khaitan City outlets, including franchisee outlets, by the end of fiscal 2007-08.
The Khaitan City outlets would stock the complete bouquet of electrical solutions offered by the company for the household sector. The company's retail foray plan was expected to entail an investment of Rs 50 crore, Mr Khaitan said, adding that talks have been initiated with the likes of Wal Mart to sell fans through the global retail major's chain of outlets. Khaitan Electricals has a 16 per cent share of the domestic market for fans. With competition on the rise and margins under pressure, it was felt that a diversified product portfolio would auger well for the growth of the company in the long run. With this in mind, the company has diversified into the manufacture of CFL lights, miniature circuit breakers, wires and home appliances.