Usha International has sharpened its focus to achieve strong value growth this summer with the help of new 5-star BLDC motor ceiling fans. The company on Tuesday launched a range of 82 SKUs, including 54 SKUs of BEE 5-star rated BLDC motor fans.
Dinesh Chhabra, CEO, Usha International said, “Our aim is to go up the value ladder focusing on the mid- to premium- segments rather than focusing on volume market share. With growing consumer awareness about energy efficiency, we believe the 5-star rated fan segment has strong growth potential.”
The last three years have been challenging for the fans segment due to various factors, including Covid-induced disruptions. According to industry estimates, the sector has witnessed volume de-growth while value growth continues.
“The economy segment has been stagnating and it may take another year before it starts seeing recovery. A lot depends on the way the realty segment shapes up as that is one of the key growth drivers for fans. The fans sector is evolving with strong growth potential in the mid- and premium-segments,” he added.
Chhabra added that impetus on infrastructure spending by the government is expected to help the fans sector garner growth in smaller towns and rural areas.
The company expects to close FY23 with revenues of ₹3,700 crore-₹3,800 crore. Fans contribute nearly 45 per cent to company’s revenues.
“Fans segment has become a more complex market. A large number of non-consumer facing brands have entered this segment in the past 2-3 years with an aim to become consumer-facing brands. So this has led to a large number of players at the entry level,” he explained.