Voltas takes JV route to re-enter consumer durables segment - space air conditioner

by:HICOOL     2021-10-11
Voltas takes JV route to re-enter consumer durables segment  -  space air conditioner
It is never easy to enter the market.
Especially if you have been absent for 20 years, during that time the consumer was nimble-
The latest competitor in consumer technology.
But if you happen to be from the Tata group and have a good understanding of the product categories of Indian consumers and enjoy the huge assets of being a value for money brand, then you have a lot to do
These are the values Voltas want to use when redeveloping
Entered the durable consumer goods market, which was withdrawn nearly 20 years ago.
However, the company has been in air-conditioned space all the time.
The company made a comeback through a 50: 50 joint venture with Turkey's Arcelik
The home appliance company is headquartered.
Voltbek home appliances joint venture aims to acquire LG, Samsung and home appliances
Growing players like Godrej will move forward with a range of products that hope to combine the best of both worlds ---
Technology and Design in Europe, price and delivery in India.
It's interesting to see if Voltas are lucky for the second time in a segment currently fixed at more than 15 rupees. 5 billion.
Pradeep Bakshi, general manager and chief executive of Voltas Limited, said, "Our research shows that the White home appliance market is a low
Voltas's fruit hanging, with high brand assets, is a market leader in the AC field with a final market share of 26.
7% per cent as at July 2018.
"It's time for us to extend our brand to other product categories.
He added that the company considered the option of operating separately.
After careful consideration, it decided to join forces with Arcelik, Europe's third-largest economy
The largest home appliance company selling products in 145 countries around the world is looking for opportunities in India.
Voltbek home appliances plans to invest about Rs 10 billion over the next four years to build manufacturing plants in Gujarat, expand distribution and develop key marketing and sales capabilities.
The company aims to grab a market share of ten per cent by 2025.
Initially, the company will rely on imports.
Arcelik has more than 18 factories in Turkey, Thailand, China, Germany and Russia.
Voltbek will start production directly
Refrigerator and half refrigerator
Automatic washing machines for the second quarter of the next fiscal year.
It will follow up on this by making small productsand mid-sized frost-
Free refrigerator and full setautomatic top-
Washing machine in township.
The Sanand factory will start with the manufacturing capacity of 1 million products per year.
In the first phase of the launch, the joint venture has launched 100 fully imported stock units from foreign facilities. In the run-
Before the launch of the product in India, the company's engineers approached consumers and dealers to understand the pulse of the market.
The team integrated feedback from local sources and launched products aimed at attracting Indian consumers.
For example, according to market research, the joint venture provides a smaller 8-
Flat panel dishwasher with 15-industry standard
Dishwasher flat panel.
Commenting on Voltbek's entry into Indian consumer durable space, Ashita Aggarwal, a marketing professor at SPJIMR, said, "in a crowded market, this is a late entrant.
"It's hard for them to get into the high-end market, and it's hard for them to get into big product areas like refrigerators and washing machines ---
Market segments dominated by highly aggressive players such as LG and Samsung. "The low-
The microwave and kitchenette appliances are used to hang fruit.
"They can use these products as their main products and enter the home of the buyer.
"After proving the quality of their products, they can hope to encourage consumers to buy large appliances.
Bakshi did not disclose the details of Voltbek's pricing strategy, and he insisted that the company would provide value-for-money products.
Experts believe that the company does not have much choice in pricing.
In order for consumers to move to Voltebek, the joint venture must either offer a highly differentiated product or offer a competitive price.
"They carry their luggage," said Aggarwal.
Voltas from Tata House can't play premium games.
"People connect the Tata group with quality products that are affordable.
"Voltbek global is a mature brand, but how many Indians know it or have heard of it," the company will target the mass market well.
"In addition to offering a differentiated portfolio, the joint venture relies on volta's existing distribution network to facilitate sales.
At present, voltass products have been sold in 15,000 outlets across the country.
In the next two years, the company plans to increase its business to 25,000.
It also plans to add 500 exclusive brand stores over the next two years.
The company also owns 30-
Strange warehouse and think its existing infrastructure is enough to support the launch of more products.
Voltbek is subject
Work with future supply chain solutions for future group supply chain and logistics service providers to handle warehousing and transportation needs for the company.
Custom message
Chat Online
Chat Online
Leave Your Message inputting...
Sign in with: