Faber will also spend Rs 6 crore on advertising and various other marketing and promotional activities, and Rs 2 crore on a Consumer Education Program.We have started a new division called Faber Care to educate the consumer on various aspects of a kitchen chimney like selection, usage, maintenance and the right kind of technology, Faber India MD Pralhad Bhutada said.
On the companys performance, Mr Bhutada said,In the just-concluded year, we have achieved a turnover of Rs 42 crore, which is 40 per cent higher than last years turnover of Rs 30 crore. We are now targeting Rs 75 crore for FY 2004-05.
In a bid to strengthen its brand positioning in the Rs 100-crore cooking appliances segment, Faber has also signed on former Miss India Shonal Rawat as brand ambassador and launched a TV commercial Faber Mom, Cool Mom. Says Mr Bhutada,The new campaign, coupled with our Life Time Warranty offer, will help position the brand in a much more focused manner.
With the cooking appliances segment projected to grow to Rs 150 crore this year, the company will also look at increasing penetration of smaller markets this year with an aggressive price strategy. Fabers range of chimneys come in the price band of Rs 4,000 to Rs 65,000. It is in the Rs 3,000-10,000 band that it intends to be most aggressive. Besides communicating the quality and technology, our endeavour will be to transform this market from a lifestyle segment to necessity level. For this we are introducing an entry-level product range for new customers, says Mr Bhutada.
Faber SpA of Italy had recently increased it equity stake in the Indian joint venture Faber Heatkraft Industries Ltd to 75 % from 51 %.