Consumer electrical firm Havells is looking to expand its export footprint in Africa, West Asia and South-East Asia to sell products across all categories.
The focus on these markets follows Havells’ sale of its European lighting business Sylvania to its parent Feilo Acoustics in 2015. Now, Havells can export its entire range of products.
Shashank Shrivastav, Vice-President, Havells, said that the company sold its European lighting business Sylvania to its parent company Feilo Acoustics in 2015.
The company had six factories in Europe producing lighting products. Shashank Shrivastav said that the European factories needed upgrade, the outlay for which was huge. It was also a time where demand was growing rapidly in India, while the European market was saturated. “We decided to invest in India,” he said.
Shrivastav was here today to launch water purifiers with prices ranging from INR 10,499 to INR 23,999. The water purifier market in India is over INR 5,000 cr where organised players account for about INR 3,500 crore. “We are focusing on metros and tier I markets initially,” Shrivastav said. The company expects the category to contribute INR 500 cr in the next three to four years.
(Source: www.thehindubusinessline.com)
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