Havell rolls out new range fans
Announcing its foray into premium range of domestic fans segment, Havells India here on Wednesday launched 12 new range model fans including Ceiling, Pedestal, Table , Wall and Exhaust in the eastern India market, where it aims to consolidate its business.
Each of these premium range of domestic fans are designed to perfection and created for the premium segment, said the company officials.
The products are priced between Rs 1650 and Rs 2500.
Apart from introducing fans, Havells India also instituted a new range of modular switches christened ' Ivy'
Ivy is a modern smart flat shape switches knob which meant for soft operation, low noise and easy usage.
Standard company, which operates under Havells India, is eyeing to bolster its pole position in market and raise its share by 25% to 30% within three years.
The fan business currently contributed Rs 700 crore to overall turnover and are expecting to make Rs 800 crore from them.
The total fan market in the country is Rs 5000 crore, of which the regular along with the premium fans segments which are growing annually by 10% are around Rs 3200 crore and Rs 1800 crore in economy segment.
Associated director of Havells India Limited Y.K Gupta said, "Standard has built a formidable reputation on high quality products since last 5 decades. We invest Rs 300 crore but expect to get Rs 600 crore in next 3 years."
"We have rolled out 12 new models of premium range of fans. The price will be between Rs 1650 and Rs 2500," he said.
Gupta said they are planning to introduce high range of fans whose price will be starting from Rs 8,000 and go up to a range of a whopping Rs 25,000.
"Even though the market size of super premium segment is small, still there are lots of demand," he said.
"Eastern India has been a strong powerful market for us, and we will strengthen our market here by launching new superior products," Y.K Gupta added.
When asked about the pricing in the post budget announcement of excise being slashed by 2 percent, Gupta said " that the company will take a call, depending on the position of the market."
"Currently we are producing fans from excise free zone. But if the market reacts , we have to respond accordingly," he said.
The company said it will also enhance its distribution network for Standard products from 230 dealers and distributors in Eastern Region to 330 by next year.
(Posted on 21-02-2014)
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