Consumer Durable maker Godrej Appliances premium segment will contribute to 55 per cent of its revenue by FY25. The company has launched a new range of premium wood-finish home appliances. 

The nature-inspired white goods range consists of refrigerators and Air-Conditioners. The refrigerators are available in two shades of oak and walnut wood in 272-litre and 244-litre capacities and are priced between ₹27,000 to ₹32,000. The air-conditioners are priced between ₹35,000 to ₹38,000 for 1.5 tonnes capacity and available in three shades cypress, teak and mahogany. 

The products will be available across India to consumers starting in March.

As per a survey conducted by the company, over 70 per cent of consumers said they would like to see more options of appliances that suit their home décor and more than half said they want everything to be well-matched in their homes.

“There are premium products offered by Godrej Appliances that will increase the contribution from 45 per cent to 55 per cent. Aesthetics is a key purchase driver today, amidst the ongoing wave of premiumization. The wood-finish home appliances will contribute to 10 per cent of the overall premium sales,” said Kamal Nandi, Business Head and Executive Vice-President at Godrej Appliances.

With the launch, the company expects to grow above 20 per cent during Summer. Currently the growth rate of the company is 18 per cent. 

“We are expecting to sustain the growth momentum which is against the industry growth rate of 8 per cent. Our growth is more than two times the industry so far and this trajectory will continue into next year. The premium growth that we are seeing is more urban-centric,” he added. 

Double-digit growth

With the backdrop of a good Summer, the company is expecting a double-digit growth next year.