After reorganising its home appliances division, BPL Limited is expecting to double its market share to 10 per cent next year. The revamped division will focus on refrigerators and washing machines, which constitutes nearly 80 per cent of the total market.
With this move the company expect to have revenues of around Rs 400 crore - Rs 450 crore during the next fiscal in the Rs 4,500 crore market. The total marketing spend is expected to be around Rs 20 crore for 2002-03.
According to company sources, in the refrigerators segment, focus would be on the direct-cool segment, which constitutes 85 per cent of the refrigerators market. The rest is the frost-free segment.
The division has also chalked out a growth strategy for the next two years. For 2002-03, it will focus on direct-cool segment in the refrigerator segment. It will introduce frost-free features in the direct-cool refrigerators, and expects the market share to go up to around 8 per cent.
It also plans to consolidate the frost-free segment through a more selective and premium approach and introduce new technology. It expects its market share to grow to 21 per cent.
In the washing machines segment, the division is introducing neurofuzzy and memory back-up features in the fully-automatic range. It has set a market share target of around 10 per cent.
Source: Business Standard