Originally reported in Economic Times India: http://economictimes.indiatimes.com/articleshow/60992984.cms
Oct. 9, 2017 New York – Westinghouse Electric Corporation, which has entered the small appliances segment in India through its brand licensee Amerex, is aiming to corner up to 5 per cent market share in the next five years, a top company official said.
Amerex is presently investing in branding and marketing for Westinghouse, which entered India in early 2017. The company is offering products like sandwich makers, electric kettles, mixer grinders and irons, among others.
“We are aiming to have around 4 to 5 per cent market share in the small appliances segment in next five years,” said Sachin Goel, CEO, Westinghouse Small Appliances India. “The Indian small appliances market is estimated to be around Rs 10,000 crore and is growing at about 20 per cent every year.”, he added.
This segment is highly competitive and price sensitive and is presently dominated by players like Philips, Bajaj Electricals, Usha and Morphy Richards. Amerex expects sales of Rs 45 crore this fiscal from Westinghouse products.
The company is presently in the process of expanding its retail network and filling gaps in its offerings in the segment.
“By Diwali this year, we will have presence in the west and south regions and in one year, we will have a panIndia presence,” Goel added.
Westinghouse is also focusing on the online segment through its channel partners. The company will soon introduce coffee makers, grillers, and air-fryers under the Westinghouse brand. Presently, 80 per cent of the product range is imported while the rest is sourced from domestic Indian manufacturers.
About Westinghouse Westinghouse
Electric Corporation, together with its licensee group, is a diversified global enterprise and purveyor of home appliances, electronics, lighting and power. Since 1886, Westinghouse has developed technology that transforms the human experience. Today, Westinghouse companies provide tried-and-true products as well as innovations that support evolving lifestyle trends and technology. WESTINGHOUSE and INNOVATION YOU CAN BE SURE OF are trademarks of Westinghouse Electric Corporation. For more information, visit www.westinghouse.com.
About LMCA
LMCA is the leader in strategic brand extension licensing with a successful 30-year track record of helping the world’s largest brands expand their reach and create new revenue streams. As the only agency dedicated exclusively to brand extension licensing, LMCA’s licensing programs deliver more than $6.5 billion per year in licensed product retail sales across the US and around the world. LMCA’s global footprint brings international reach to tops brands through offices in New York, Atlanta, Shanghai China and affiliates in Europe, India, the Middle East and Latin America.