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French consumer electronic brand Thomson has invested ₹200 crore in a manufacturing plant for washing machines in Noida.
The company will introduce a range of washing machines at disruptive prices starting with semi-automatic washing machines of 9 kg at ₹9,499.
The plant has a capacity of 3,00,000 washing machine units and will produce 5,00,000 in another six months. The company will offer semi-automatic, fully automatic and front-load washing machines. The pricing will be under ₹10,000 rupees for semi-automatic machines.
The washing machines will be delivered at 19,000 pin codes in India through its partnership with Flipkart.
“Thomson will be launching more than 30 models in a year. This is the highest ever by any brand across the washing machine segment. The company will be opening one category every year focusing on setting up manufacturing and backward integration. We will offer semi-automatic, fully-automatic and front-load washing machines at affordable prices. We will also offer features with the legacy that comes with the brand,” said Avneet Singh Marwah, CEO of Super Plastronics Pvt. Ltd (SPPL), exclusive brand licensee of Thomson in India to bunsinessline.
The company plans to have a 20 per cent market share in the washing machine segment over the next four years.
“Washing machines have a penetration of less than 20 per cent and there is a huge growth. When we launched the washing machines three years back we did not get support and decided to have an in-house facility for washing machines,” he said.
New televisions
Thomson has also launched a new series of televisions with Realtek processor Google TVs with 4k display. The range will start from ₹10,499.
The company aims to achieve a 9 per cent market share in televisions over the next two years. It is setting up a second plant for the manufacturing of television in Uttar Pradesh.
Inflation
The company that witnessed softness in demand owing to changing interest rates is anticipating an uptick in demand after the withdrawal of ₹2,000 notes by RBI.
“As interest rates stabilised, markets started acting maturely and consumerism started hitting after April- May. Now with the withdrawal of ₹2,000 notes, there will be uptake in buying and it has started going up. People who were avoiding purchases will start buying,” added Avneet.
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