Launches the new range in Chandigarh, Punjab, Haryana, Himachal Pradesh and J&K
– Targets Rs 100cr revenue from entry level modular switches in next 2 to 3 years
– Expects an overall growth rate of 10% from switches segment
– Company to spread its presence to 1100 towns; of 1250 towns in next 2-3 years
NewZNew (Chandigarh) : Havells India Limited, a leading Fast Moving Electrical Goods (FMEG) Company and a major power distribution equipment manufacturer today marked its entry into entry level modular switches with the launch of its innovative range of switches named “Reo Bliss”. The new range of entry level modular switches is aimed at customers looking for pioneering and attractive switches at economical prices. With this launch the company will enhance its presence from 700 to 1100 towns (of 1250 towns) with 50000 and above population over next 2-3 years.
‘Reo Bliss’ range of switches represent a unique symbiosis of advanced technology, maximum functionality and exquisite design to match the taste of today’s discerning customers who want best in class product at affordable prices. The new range carries a compact exterior with shrouded terminals, captive screws, brass terminals, arc shield, shuttered socket providing smooth and noise free operation. It is made of best in class engineering polymers. The new range will be manufactured at the company’s plant at Baddi and will be available at an attractive price of Rs 19 onwards.
The switches will be available in seven attractive colours and three different combinations- Aqua Blue, Plum Red, Stone Grey, White, Classic Ivory, Jet Black and sand Beige. The switches will be made from colored polymers against the general trend of painting the plastic covers that helps in retaining colour and shine throughout the life of the switch.
Speaking on the occasion, Mr. A V Jagdish, Sr. Vice President, Havells India Limited said, “With the launch of Reo Bliss we have further strengthened our product portfolio. The new range is the result of rising aspirations of consumers and our intensive research and development efforts that will facilitate our entry into untapped markets and regions. It will give an opportunity to consumers to move from piano switches to modular switches with a minimal incremental cost.”
He further added, “With this launch, we are confident that Havells position as an innovative brand will be reinforced in the consumer’s mind. With this launch, the company is expecting an overall growth rate of 10% from the switch segment and targeting revenue of Rs 100 cr from the entry level modular switches category in the next 2-3 years”.
Mr. Vivek Yadav, Vice President, Havells India Limited said, “Reo Bliss offers an exhaustive range of switches with multiple color options. These switches are a right combination of engineering, aesthetics and quality at affordable prices and are surely going to entice the modern and price conscious consumers.”
“Our strong distribution network and great assortment of quality products gives us a distinct advantage to serve markets better. The entry level modular switch segment is growing at 10% currently and we are well positioned to enhance this growth rate in times to come. We expect Reo Bliss to contribute around 25% of Switches revenues in next 2years”, he added further.
Havells is the only company in the country to possess a fully automated assembly line and tool room for switches in order to bring down production costs and minimize human errors, thereby ensuring consistent and high quality product.
The overall switch market in India is expected to be about Rs 5000 cr.