moneycontrol.com
Consumer durables maker Godrej Appliances, a part of Godrej & Boyce Mfg Co expects its sales to grow around 25 percent year-on-year in 2013-14 (April-March), a top company official said on Monday.
It is expecting to close the current financial year ending March with sales of over Rs 2,000 crore, Kamal Nandi, EVP - marketing and sales, told reporters. He was speaking on the sidelines of a new marketing campaign launched by the Godrej Group.
The Group, which also has interests across fast moving consumer goods, real estate, security systems and furniture, among other areas, has roped in film star Aamir Khan as its brand ambassador.
The campaign will showcase different Godrej products and Khan will be seen dressed as a woman in the television commercials, which will go up on air soon.
The company officials said that the company would invest "significantly" in the new advertising campaign, but refused to divulge specific details.
Meanwhile, Godrej Appliances is hoping sales of its cooling products like air conditioners and refrigerators will grow around 15 percent in the current summer season, helped by new launches. Sales of these products were subdued last two years, due to various reasons including price hikes and short summer.
"Since the last two years, sales of cooling products have been depressed. Last to last year, due to short summer sales were slow and last year prices increased, 15-18 percent in air conditioners, and that is why consumer sentiments were depressed. This year we are expecting this pent up demand from last two years will finally get converted into consumption," Nandi said.
This year the prices are more stable, he added.
NO TV SALES FOR NOW
Godrej Appliances is betting big on growing refrigerators, airconditioners, washing machines and microwave ovens going ahead. But it has stopped selling LCD TVs.
The company launched Eon range of LCD TVs in select markets in 2008. It launched game LCD in 2010 and had targeted a 10 percent market share in LCD TV segment, according to media reports that time.
But Godrej Appliances has now put that on the backburner, saying it was only a pilot project they had done.
"We actually did a pilot on television and we restricted to few markets for the pilot. Then we decided not scale ahead," Nandi said.
When asked why the company had decided to switch off TVs, he said the company right now is focusing only on four core categories -- refrigerators, microwaves, air conditioners and washing machines.
"We are trying to focus our entire investment into this core, because what we feel is that this four has a lot of potential. If you look, penetration level of refrigerators is only about 18 percent. AC is just 4 percent, microwave is 3 percent and washing machine is 9 percent. So we would like to capitalise on this our strength that we have, invest in these areas, scale it up, then move into other things," he said.
nachiket.kelkar@network18online.com
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