Videocon eyes Rs 1,000 cr turnover from AC business

Tags: Ac, Videocon, Consumer
Videocon Industries is eyeing Rs 1,000 crore turnover from its AC business in 2014-15, annual increase of 33 per cent, on the back of new product launches.

Turnover from AC business was Rs 750 crore in 2013-14.

"Despite slowdown in the market, we expect to grow by about 35 per cent and report Rs 1,000 crore turnover this financial year," Videocon Air Conditioner Division COO Sanjiv Bakshi told PTI.

"We have invested in product development and are also increasing distribution points," he said.

Videocon today launched 32 models of split and window air conditioners in the price range of Rs 27,490 to Rs 37,440.

Bakshi said the company is increasing sales points to 5,000 across country from 3,500 last year.

"Majority of the new sales points would be in the non- metro cities. We expect non-metros to be growth drivers for the air conditioner segment," he added.

Videocon is targeting 20 per cent market share in the air conditioner segment in the next two years. "Last year our market share in AC segment was 11 per cent. We hope to achieve 15 per cent market share this year and increase it to 20 per cent in the next two years," Bakshi said.

The company also plans to invest Rs 35 crore this year on marketing and promotion of its new range of air conditioners.

EDITORIAL OF THE DAY

  • Census shows urgent steps are needed to dispel rural despair

    The much delayed Socio-Economic and Caste Census, 2011, has finally seen the light of day, and going by its conclusions, it couldn’t have come a day

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

Economic integration in east Asia

As trade agreements within a global framework have become increasingly ...

Rajgopal Nidamboor

Up the ante of your conscious existence

It sounds cryptic, but is not as complex as it ...

Gautam Gupta

The ‘fake’ issue needs to be taken seriously

E-commerce players are witnessing unbelievable growth globally. Competition is increasing ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture