Standard, a brand under Havells India Ltd, has announced its foray into the water-heater segment.
Standard, which clocked a turnover of ₹400 crore during 2016-17, expects strong growth this financial year at about ₹500 crore, and aims to cross a turnover of ₹1,000 crore within three to four years.
Abhra Rajib Banerjee, Vice-President of Havells, said: “The ₹1,300-1,500 crore water-heater industry is growing at 12 per cent per annum. It provides an opportunity to tap the growing market not just in major cities but also in Tier 2-5 cities.”
The aesthetically-designed 5-star-rated water-heaters are priced in the range of ₹3,500-14,000 per unit, with the capacity going up to 25 litres. “Soon, we expect to launch smart water heaters, which will be part of internet of things [IOT],” he said.
The water heaters are manufactured at its plant in Neemrana in Rajasthan, where it has the capacity to make 5-lakh units per annum.
Miniature circuit breakers
As a part of the Standard brand expansion, the company has introduced the Aspida range of miniature circuit breakers (MCBs) and Zoe Switches. The Zoe range comes with dual tone finish and offers ease of changing the front plate/panel. It is available at a price starting from ₹38.
Under the Aspida range, Standard launched new range of MCBs designed and developed by its R&D teams. The range, which starts at ₹145, provides protection from overload, short circuit and electrical shock.
Apart from expanding the channel partners from 1,000 to more than 2,500, Standard is also working on increasing its brand stores from 35 to 100 over the next 12-15 months.
“Standard has changed its strategy and is focussing on younger users by creating a difference through product design. The current product launch is part of the overall strategy to further consolidate our market share,” said Banerjee.