Faber Heatkraft Industries Ltd. has slashed the price of two models of kitchen chimneys in India in order to preempt competition from cheap imports, the company said. The move also aims to replace the exhaust fan with the electric chimney in Indian kitchens.
Currently, Faber's entry-level kitchen chimney is available for Rs 4,990 (approx. U.S. $114). This product will now be sold for Rs 2,990 (approx. $68). Faber announced that it is also reducing the price of its entry-level decorative kitchen chimney, which currently costs Rs 15,000 (approx. $343). This product will now be sold for Rs 9,000 (approx. $205) instead.
"We foresee major action in the electric kitchen chimney market in the coming months with the entry of other big brands like Electrolux and Whirlpool," Pralhad Bhutada, managing director of Faber-India said. "The advertising campaigns of these new brands will surely create more awareness and expand the market. Since Faber is the leader in India, we would like to take the lead in broadening the market. Our new pricing strategy aims to achieve this objective." (Times of India)
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