Intex to boost consumer durables business

In the times of boom in mobile handsets market, Intex Technologies is aiming at increasing the share of its consumer durables business to 50% by the end of 2018-19 and would open a new plant to manufacture refrigerators as well as washing machines. Consumer durables currently account for about 30% of its revenues.

Vishal Malik, business head, retail, Intex Technologies said, “We are investing Rs 500 crore in the new plant. We would make mobiles and accessories in the first phase, which would be ready for production by the end of 2018. The plant, which is coming up on 20 acres of land in Greater Noida, would also produce refrigerators and washing machines, he said. The company now has three plants—one each in Jammu, Noida in Uttar Pradesh and Baddi in Himachal Pradesh.”

Malik, who was here to open Intex’s ‘SmartWorld Store’ said, “Intex now gets refrigerators and washing machines from contract manufacturers. “We have been growing our consumer durables business. Since mobile phones business has become competitive, we are focusing on consumer durables,”

He added, “Last year was a turbulent one for mobile handset makers. International brands invested heavily in branding and space selling in the Indian market. The market dynamics have completely changed in the mobile phones business.” Intex sold 10 million handsets in 2017.

He said, “There is still a lot of space in the consumer durables business. We want to be a big player in the mass market. Our pricing would be oriented towards this segment,” Malik stated. Intex would tap all the formats to expand its presence in consumer durables. “We want to have an omni-channel presence. We would be available online as well as in large format retail stores. Intex, which has 125 ‘SmartWorld Stores’, would expand it to 300 stores, by the end of 2019. These stores house the entire range of Intex products. “We would maintain the pace of our store additions.”