Electrolux Kelvinator Limited (EKL), the Indian subsidiary of U.S. $17-billion AB Electrolux of Sweden, said it was expecting around 20-percent top line growth in the next year and will launch a slew of new products to achieve the target.
The launches were aimed at shedding the image of being a refrigerator manufacturer to a company that provides entire range of state-of-the-art home appliances.
With a series of new launches in washing machines, kitchen products, floor cleaners, air-conditioners, and microwaves, the company expects around 20- to 25-percent growth in revenue during the next year, Ajay Kapila, EKL's vice president of Sales & Marketing, said.
Giving details of the new launches over the next few months, Mr. Kapila said the company will launch three new 6.5-, 6-, and 5.5-kg washing machine models soon and also has plans to launch a 7.0-kg model.
In addition, the company is set to introduce split air-conditioners at the price of window units to increase market share.
Mr. Kapila said around 95 percent of EKL's turnover in 2003 came from refrigerators, while this year the share was likely to come down to 90 percent and to 80 percent in 2005. He said EKL had introduced washing machines, air-conditioners, and microwave ovens only recently, and the full impact would be felt in the next year.
Asked about market share, the vice president said the company was commanding 13-percent share in refrigerators, which was expected to go up to 15 percent next year.
EKL's share in washing machine category is likely to grow by at least 40 percent from the existing level of 4 percent, he added.
In addition, with the new launches, EKL is expecting to command 8- to 10-percent market share in air-conditioners and microwave ovens segment. (Sify.com)
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