Vijay Home Appliances goes for rebranding
Vijay Home Appliances, known for its functional range of products, has rebranded itself as an ‘aspirational' brand.
“We are on our way to becoming a full appliances national brand targeting the young consumer,” said Dr Krishna Sagar Rao, Chief Strategy Officer, Vijay Appliances.
The company will soon launch products such as tablet PCs and electric pressure cookers, he added.
The 50-year-old small appliances player has divided its product offerings in three verticals targeted at consumers at home, kitchen and office.
Vijay's existing appliances range (water heaters, fans and iron boxes) has a strong recall in the Southern market and is now planning to launch its products across the country. Its product range includes induction cook tops, juicers, mixers, grinders, paper shredder, conference systems, coffee machines, cash counting machines and portable music players.
The company expects to clock turnover of around Rs 225 crore by June 2012 and is targeting a sales turnover of around Rs 1,500 crore in three years.
In 2012-13, the company will invest around Rs 27 crore in advertising and promotion activities. The company is planning to launch 3-4 own-brand stores this fiscal showcasing all its products, Mr Rao said. The Indian small appliances market is valued at about Rs 29,000 crore and growing at CAGR 23.5 per cent.
(Source-: Business Line)