Indian firm looks to create a ‘Kodak Moment’ in home appliances
NEWDELHI: Kodak is finding a new moment in India, this time in home appliances.
Over a year after launching Kodak televisions, the local brand licensee is ready with Kodak washing machines, betting on the low penetration of the category in India.
Kodak washing machines will reach the market in three to six months, said Avneet Singh Marwah, director and chief executive officer of Super Plastronics Pvt. Ltd (SPPL), the Kodak brand licensee in India.
“India will be the first country to have Kodak washing machines that we will make in India. Kodak TVS and speakers are available in other markets like South America. But Kodak’s entry into the home appliances segment will start from India,” Marwah said. His company launched Kodak TVS in August 2016.
Founded in 1888, The Eastman Kodak Company ruled the world of film photography and its tagline ‘Kodak Moment’ even found a place in the Oxford Dictionary. Since its bankruptcy in 2012, the New York-headquartered company has been trying to find its feet in printing services and by licensing the Kodak brand.
Marwah’s SPPL brought the brand to India. Kodak TVS were initially sold on e-commerce marketplaces and later introduced in retail stores.
“Unlike TV, washing machines will be launched offline or in the traditional retail channel. The scope for washing machines in India is huge considering the low penetration,” Super Plastronics CEO said, adding that depending on the success of its washing machines here, Kodak may also look at taking it to other markets in future.
According to a November 2017 report by consulting firm PWC, only 13% rural households and 88% of urban households in India have washing machines, while the global average is 70%.
Sales of washing machines are estimated to grow 11%, from 5 million units in 2017 to 9 million by 2022, the PWC report noted.
To leverage the under-penetrated market for washing machines, Marwah has decided not to extend the Kodak brand to any other home appliance in the near future.
“We need to establish Kodak TV and washing machines in the market before we look at anything else,” he added.
SPPL was founded in 1990 as a manufacturer of plastic injection mouldings for television companies, and started contract manufacturing for some of the home-grown brands such as SVL, Crown and Suntek, and even created its own brand Beltek.
Currently, it has three factories in Pune, Noida and Jammu. SPPL is planning to add one more factory at an investment of around ₹100 crore this year.
While Marwah’s SPPL has rights to use the Kodak brand in India and neighbouring countries, the New Yorkbased company has agreements with companies like Bullitt Group for Kodak Ektra smartphones in a few countries and with Archos for budget Android tablets in Europe.