Orient Fans, under the brand name of ‘Orient Actus’, has forayed into the home appliances market with a range of kitchen appliances, air cooling solutions and water heating solutions.
An increase in disposable incomes of people and the resulting change in their aspirational values is what urged them to diversify. Also independent research findings which estimate the organised small appliances market to grow at a CAGR of 12 to 13 per cent in value terms fanned the decision.
S B Khedkar, Vice President-Appliances at Orient Actus, says, “Since the market is in the growth phase and current penetration levels are low for most categories, therefore, there is enough opportunity and room for new brands with better aesthetics and value proposition coupled with a very efficient services setup. We will be present in all the Tier 1, 2 and 3 cities (Approx 100 cities) by the end of 2012-13.”