Symphony enters Industrial space
Company finds recession as the right time to grow.September 17, 2012 | comments ( 0 ) |
Symphony Limited is all set to cash on the recession woes. As the cost of power is going up, Symphony Limited has identified this as the right time to expand beyond the households. They are going to focus on the Indian industrial and commercial air cooling business which is a virgin market with huge potential. Their primary target would be large format retail outlets. Speaking about the plan, Achal Bakeri, Chairman and MD, Symphony Ltd said “With this vertical, we are targeting to become as big as its existing residential business in the next three to five years”.
Symphony has already completed the soft launch in India with successful installations at Maruti Suzuki, Nestle India, Shivam Autotech of Hero Group as well as ISKON temple in Delhi. “At present there are no other players in this market and we want the players to come as this would help the market to expand. This is the right time as the growth is slow and Air cooling is 90 per cent cheaper than air conditioning”, Bakeri added.
- ShopClues launches its first offline store in Lucknow
- Crocs opens its 100th store in India
- Williams-Sonoma, Inc. announces partnership with Reliance Brands for India Market
- Instant noodle brand YiPPee crosses Rs 1,000 crore sales mark
- Myntra CEO & CFO quit
- Levi Strauss plans to launch IPO
- Coffee Day Enterprises profit up by 60% in Q2 results
- Ecommerce to contribute 11% of FMCG sales by 2030: Nielsen
- Perpule Raises $4.7 million in Series A to Fuel Omni-Channel Retail & Consumer Commerce in India
- Kellogg plans to reorganize cookies and fruit snacks category