Standard enters water heater segment
THE HANS INDIA |
Dec 07,2017 , 11:57 PM IST
Hyderabad: Counting on the growing demand for water heaters in the country, Standard, one of the multiple brands owned by Havells India Limited, on Thursday launched a wide range of water heaters, marking its foray into the Rs 1,300-crore segment which, the company says, is growing at 12 per cent annually.
The brand which has presence in electric switches and modular circuit breakers launched new product ranges in the two segments as well. Available in five variants, the water heaters are produced at Havells’ plant at Neemrana in Rajasthan.
They are priced between Rs 3,500 and Rs 14,000. “Standard is a youth-centric brand which understands the needs of the younger audiences. The current products launches are a part of the overall strategy to further consolidate our market share,” said Abhra Banerjee, Vice President, Havells India Limited.
To expand its existing product range, the company launched Zoe range of switches and Aspida, a new range of MCBs. Designed and developed by the company’ R&D team, the Aspida range provides enhanced safety against overload, short circuit and electrical shock.
The brand which clocked Rs 400 crore in revenues last fiscal is aiming at Rs 500 crore this financial year. In three to four- year horizon, it has set eyes on Rs 1,000 crore revenue mark. The company which has 35 exclusive branded stores, is planning to take the store count to 100 by end of the current financial year.