Durables
Haier aims for $2 billion sales in India in next 3-4 years, to invest Rs 1,000 cr in manufacturing
Haier Appliances India aims to achieve USD 2 billion in sales within the next 3-4 years, driven by product category expansion and channel growth. The company plans to invest over Rs 1,000 crore in new production facilities, projecting significant capacity increases to meet rising demand in the Indian market.
Haier announces fresh manufacturing investment of Rs 800 crore in India to expand its AC production capacity
Haier is investing Rs 800 crore in India to expand its air-conditioner production and start PCB manufacturing. The new AC plant will increase capacity to 2.5 million units per annum and the PCB unit will commence production by October. This investment aims to reduce import dependency and build a local component ecosystem.
Blue Star to invest Rs 400cr in capacity expansion, eyes 20pc growth in FY'26
Blue Star Ltd. plans to invest Rs 400 crore in FY26 to expand its manufacturing capacity for room air conditioners, commercial refrigeration, and commercial air conditioning. The company aims for 20% growth and targets increased market shares in key segments, driven by robust demand and product innovation.
Havells poised to weather UltraTech's entry into cables business with diversified portfolio
Havells India's diversified business approach is expected to help mitigate the impact of UltraTech Cement's entry into the cables market. Only a third of Havells' revenue comes from wires and cables, compared to 85-95% for its peers. Havells is also ramping up production capacity and anticipates earnings growth by 28% between FY24 and FY27.
Sharp re-enters India air-condition market, launches products
Sharp Corporation has announced its return to the Indian air conditioner market, launching three new series designed for extreme weather. The company aims to position itself as a trusted brand in India, integrating its patented Plasmacluster technology to enhance air quality.
Kitchen appliances maker TTK Prestige to grow stores by 30% in 4 years, CEO says
TTK Prestige plans to increase its store count by up to 30% over four years, focusing on both large and smaller towns. CEO Venkatesh Vijayaraghavan believes the government's recent tax relief will boost consumer spending amid high inflation and raw material costs. The company currently operates around 680 stores across 375 towns.
AI-enabled products, exports & aggressive pricing boost Samsung & LG’s India sales by 10 per cent in 2024
Aggressive pricing, AI-enabled products, and export strategies have driven Samsung and LG's financial performance in India to see over 10% yoy sales growth in 2024. Both companies reported significant profit increases, despite India's subdued electronics market due to high inflation impacting consumer spending.
Paloma Rheem Holdings gets CCI nod to acquire Fujitsu General for $1.6 billion
Fair trade regulator CCI has approved Paloma Rheem Holdings' $1.6 billion acquisition of Fujitsu General. CCI cleared the deal without finding competition risks, enabling Paloma Rheem to expand its international market presence and innovate in integrated air and water solutions relevant for decarbonisation.
Blue Star plans for gradual expansion at manufacturing facilities for room ACs
Blue Star Ltd plans to expand its manufacturing capacity to 1.8 million units aiming for a 14.3% market share in room air conditioners by FY26. With a growing middle-class and housing sector, and recent unveiling of 150 models including energy-efficient and smart Wi-Fi ACs, the company is set to meet the rising demand.
Must Watch
38 years of design innovation: How this furniture brand blends function with style
HOF Furniture & more, established in 1986, combines Italian design with Indian manufacturing. With advanced technology and sustainability practices, they produce functional and aesthetic furniture. Global expansions include showrooms in Nepal and soon Dubai, and partnerships with Italian designers and Russian brand Glider for innovative products.
Strategic partner unlikely now for Whirlpool India: Group CFO James Peters
Whirlpool Corp plans to reduce its stake in Whirlpool India from 51% to 20%, allowing the Indian entity more investment autonomy while retaining long-term branding and technology agreements. The decision aims to focus on growth and market penetration in India. Whirlpool India may also outsource support functions to streamline its resources towards product development and marketing.
LG chief to visit India ahead of IPO, weigh investment options
LG Corp chairman Kwang Mo Koo plans to visit India to finalize the IPO of LG Electronics India, valued at ₹15,000 crore, around April-May. He will also explore new investment opportunities in manufacturing displays and components. This will be the first business trip by LG's top boss in a decade.
Aequs teams up with Brazilian firm Tramonita, to invest Rs 80 cr on manufacturing facility in Hubballi
Aequs and Tramontina announced a Rs 80 crore joint venture to produce cookware in India. The facility will be located in Hubballi Durable Goods Cluster. This partnership leverages Aequs' manufacturing ecosystem and Tramontina's experience, aiming to meet growing global demand for premium cookware and serve markets effectively with high-quality products.
Pradeep Bakshi steps down as Voltas MD and CEO
Pradeep Bakshi steps down as Voltas MD and CEO after over 20 years, with Mukundan Menon set to succeed him from September. Under Bakshi's tenure, Voltas became the leading brand in the Indian AC market. Voltas also reported an 18% rise in consolidated total income and Rs 131 crore net profit for the third quarter ending December 2024.
Soft drinks, ice creams, AC makers scaling up production to match early season demand spike
As an unusually early summer approaches, manufacturers of seasonal products like air-conditioners, soft drinks, ice creams, and beer are ramping up production. Companies such as Voltas, Varun Beverages, and Amul are increasing capacity and stock replenishment cycles to meet anticipated demand.
