Kitchen Appliances India Ltd. is planning to manufacture and market refrigerators under the brand name Kenstar for the first time by February 2003. With this move, the company plans to manufacture frost-free refrigerators with the capacity ranging from 250-450 L at its factory in Bangalore. At present, the company manufactures its Kenstar washing machines at this factory.
According to Kitchen Appliances India Ltd. president and CEO Rahul Sethi, the objective behind the move is to have a portfolio of a complete range of kitchen and home appliances and to incrase turnover in the next few years. "We hope to sell 60,000 units of our frost-free refrigerators within a year. Besides this, we also expect to sell around 25,000 units of air-conditioners for the coming summer." The company plans to position the Kenstar range of refrigerators in the middle-end to premium-end of the market.
Further, the company is also planning to enter into a co-branding strategy with some leading foreign brands in the home and kitchen appliances segment. "We have been approached by some of the brands outside India, who want to make their presence felt in the Indian market," said Mr. Sethi. "They want to use the marketing strength of Kenstar dealers and distributors’ network to introduce their range of products in the Indian market. Hence, we are currently in talks with three to four foreign companies." However, Mr Sethi refused to divulge further details about the foreign brands due to competitive strategies. (The Financial Express)
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