970*90
768
468
mobile

Lloyd to enter refrigerator market boosting its consumer durables portfolio

Franchise India Bureau
Franchise India Bureau Feb 05 2019 - 1 min read
Lloyd to enter refrigerator market boosting its consumer durables portfolio
Presently, AC sales account for 70% of the total business Llyod generates for Havells India.

Consumer durable brand Lloyd, owned by Havells India, will be foraying into India's Rs 15,000 crore refrigerator market in the next 1-1.5 years. The company will be boosting its consumer durables portfolio by entering this market.

Havells is expecting its non-AC portfolio to grow and contribute around 50-60% of the revenue from the Lloyd business.

Anil Rai Gupta, Chairman and Managing Director, Havells India, said, "ACs are the strongest revenue contributors in our portfolio, but we expect the non-AC business to pick up as well. As a result, even as revenue will continue to increase, the contribution of non-AC business will go up. It will take another 1-1.5 years for us to launch refrigerators."

Presently, AC sales account for 70% of the total business Llyod generates for Havells India. It commands 3% of the total white goods market in India, pegged at around Rs 60,000 crore.

"We have been seeing a 20 per cent growth in the Lloyd business and expect to maintain a 15-20 per cent growth from this segment in the coming few years," Gupta further stated.

Subscribe Newsletter
Submit your email address to receive the latest updates on news & host of opportunities
Entrepreneur Magazine

For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you

or Click here to Subscribe Online

Newsletter Signup

Share your email address to get latest update from the industry