In a recent development, leading AC maker Carrier Midea, is all set to double its advertising and promotional budget this year and is looking to increase its turnover to Rs 1,000 crore in the current fiscal year. As of now, the company markets its products under two brands, Carrier and Midea. Overall, the company accounts for 25 per cent market share in its category. Talking about the move, Krishan Sachdev, MD, Carrier Midea, said, "We intend to become one of the top three players in the domestic AC market in the next few years.” The company is aiming to leverage with Carrier's existing distribution capacity and sales network and Midea's product range to boost its sales. Sachdev further added, “the month of May saw 25 per cent growth in business, and overall the year was better compared to the past two years. For residential ACs, the company will look at developing its business with real estate projects, which sell expensive houses with pre-fitted equipment.” As of now, company offers a range of products including inverter AC, cassettes, VRF, microwave ovens, window and split ACs and water dispensers.
Company is inclined to increase annual turnover.