Comments
Standard brand under Havells India Limited has announced its foray into water heater segment while introducing new generation Aspida range of MCBs and Zoe Switches.
Standard, which clocked a turnover of Rs 400 crore during 2016-17 expects a strong growth this financial year to close at about Rs 500 crore and is aiming to cross the turnover of Rs 1000 crore within three to four years.
Introducing the new range of products in the country from here today, Abhra Rajib Banerjee, Vice President, Havells said, “The Rs 1300 crore to Rs 1500 crore water heater industry is growing at 12 per cent per annum. It provides opportunity to tap the growing market not just in major cities but Tier 2 to Tier 5 cities in the country.”
These aesthetically designed 5-star rated water heaters are priced in the range of Rs 3,500 to Rs 14,000 per unit with capacity going up to 25 litres. “Soon, we expect to launch Smart water heaters, which will be part of internet of things (IOT),” he said.
Manufactured in the company's plant at Neemrana in Rajasthan, where it has capacity to make 5 lakh units of water heaters per annum, the company expects to reach out them through its more than 1000 channel partners.
As a part of Standard brand expansion, the company has also launched Zoe range of switches which come with dual tone finish and offer ease of changing the front plate/panel. The price starts at Rs 38 onwards.
Under the Aspida range, Standard launched new range of MCBs designed and developed by R&D teams at Standard. The range, which starts at Rs 145, provides protection from overload, short circuit and electrical shock.
Apart from expanding the channel partners from 1000 to more than 2500, Standard is also working on increasing its brand stores from 35 now to 100 over next 12-15 months.
Banerjee said, “Standard has changed its strategy and has focused on younger users in the market by creating a difference through product design. The current product launch is part of the overall strategy to further consolidate our market share.”
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.