Godrej Appliances betting on premium products to drive more than 50% growth this festive season | The Financial Express

Godrej Appliances betting on premium products to drive more than 50% growth this festive season

“Coupled with consumer schemes that will enable consumers to upgrade easily, these new offerings are expected to help us drive more than 50 per cent growth this festive season.”

Godrej Appliances betting on premium products to drive more than 50% growth this festive season
Kamal Nandi, Business Head and Executive Vice President – Godrej Appliances, part of Godrej & Boyce.

Godrej Appliances has launched more than 100 new products for the festive season and is betting big on the festive months to drive 50 per cent growth for the brand. In line with the previous conversations of the brand with FinancialExpress.com on the growing popularity of premium products, Godrej Appliances has focused on a premium range for its product launches. “Coupled with consumer schemes that will enable consumers to upgrade easily, these new offerings are expected to help us drive more than 50 per cent growth this festive season,” said Kamal Nandi, Business Head and Executive Vice President – Godrej Appliances, part of Godrej & Boyce.

Also Read: Flipkart Commerce general counsel quits; Walmart India’s VP legal gets interim charge

The brand has introduced new range of Eon Velvet series – comprising new Side-by-Side Refrigerators with advanced controls and Top Load Washing Machines with well-established GermShield technology, advanced looks and back panel controls; and Eon Crystal series– a new range of attractive Glass Door Frost Free Refrigerators with Nano Shield technology for +95 per cent Food Surface Disinfection along with other new ranges of semi-automatic washing machines and deep freezers. This is coupled with a range of smart ACs, glass door refrigerators, portable insulin cooler, etc. “Between the last festive to this October, we will have added 100+ new product SKUs offering greater choice for our consumers. This new portfolio is largely centered around premium products across categories,” he said. 

The slew of incentives by the brand this festive season include extended warranty, exchange & cashback offers up to 12000 with leading banks, Rs 1 down payment option, flexible and fixed lucrative EMI options, etc. Given the 125 years celebration of Godrej and Boyce, every customer will also stand a chance to win up to Rs 1 Lakh on registration, the brand informed. 

Earlier, Kamal Nandi had said, “Our efforts of the last two years to bring out premium portfolios across categories have started paying off now very well. We are launching more new products in the segment this year and are targeting another Rs 200 crore to be invested in this portfolio and capacity expansion.” Godrej Appliances aims for a turnover of around Rs 5,500 crore, which is even 35 per cent higher than the pre-pandemic number of Rs 4,500 crore, he had said. The premium products portfolio, in the pre-pandemic year, was around 18-20 per cent, which is slated to move up to 32-35 per cent this year. The brand has also opened a number of exclusive outlets in tier-II, -III and -IV markets to enable the growth. 

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.