Announcing its entry into the domestic home appliances, electrical equipment maker Havells India said it expected to clock sales of Rs.500 crore from the segment in the next four years. The company said it would invest up to Rs.80 crore on marketing, research and development of its small appliances range over the next two to three years.
The company on Thursday launched a range of appliances which assist in food preparation, garment care, home comfort, cooking and brewing to cater to the estimated Rs.5,200 crore domestic appliances market.
“We we see a huge business opportunity in this fast growing domestic home appliance market,'' Havells India Joint Managing Director Anil Gupta said in a statement. He said the products would initially be available in top 40 cities through some 4,000 outlets apart from its 100 exclusive Havells Galaxy stores. Besides, the firm plans to export its products to Latin America and Thailand using the distribution channel of Sylvania, which it bought in early 2007.