The Hindu Business Line
Godrej Appliances to foray into air purifiers
Godrej Appliances is looking to foray into air purifiers by next year.
The company said it has launched a pilot project in Delhi to gauge consumer feedback.
Kamal Nandi, Business Head & EVP, Godrej Appliances, said: “We have launched a pilot in Delhi to understand the need and requirements of the Indian consumers. We plan to launch our air purifiers formally next season by September next year.”
The size of the air purifier market is currently pegged at ₹250 crore and expected to grow to about ₹1,000 crore in the next three years. Nandi said the company was aiming to grab a market share of about 10 per cent within two years of the commercial launch of its air purifiers.
Talking about the impact of demonetisation, Nandi said while the industry saw a drop in demand by 35-40 per cent in November, it has started seeing an uptick in consumer sentiment in December.
“We were aiming to clock revenues of ₹3,750 crore by this fiscal-end. However, due to the impact of the demonetisation, we now believe we should close the year with revenues of ₹3,5003,600 crore,” he said.
Nandi said while October was a good month due to the festival season, November saw a slowdown due to demonetisation but December has seen improvement in sales, especially in cities, adding that the company hopes to witness growth from January and was gearing for a good summer season.