Fedders Lloyd Corporation Ltd, a pioneer in the commercial air-conditioning industry in India, has forayed into the consumer electronics and home appliances segment under the brand name of Lloyd. The Lloyd range includes air conditioners, microwaves, DVD players and LCD TVs that offer the ‘Lloyd Crystal Wave Technology’.
Announcing the launch of Lloyd Appliances, BR Punj, Chairman and MD, Fedders Lloyd Corporation, said, “Our company has enjoyed over 50 years of unchallenged leadership in the air-conditioning industry. The launch of Lloyd Appliances is an essential component of our business strategy to capture significant market share in the ever-growing and highly potential consumer durables market. Our corporate philosophy of fearless innovation and uncompromising quality products will ensure that we accomplish our mission to be among the top three premium consumer durable brands by 2010.”
The new products will be manufactured in the company’s plant, which houses state-of-the-art facilities. With an initial investment of Rs 50-60 crores, the products will be available and serviced through a strong dealership network.
Speaking about the new ‘Lloyd Crystal Wave Technology’ product range, Pavan Bhargava, President, Fedders Lloyd Corporation, said, “Lloyd Appliances will herald a new change in the consumer durable industry with products that are competitively priced, futuristic feature led and offer value for money. Every product bearing the Lloyd name carries the Crystal Wave Technology to make life simpler and better for our consumers.”
The new product portfolio launched under the Lloyd brand include air conditioners which are available in seven models of split ACs, four models of window ACs, and two models of floor ACs, all powered by the Crystal Wave Technology to help deliver 99.4 per cent pure air. While the evenly cooked food in all the six models of Crystal Wave Technology Lloyd microwaves retains nutrition without compromising on taste, the six models of Lloyd LCD televisions offer unmatched picture and colour clarity. The four models of Lloyd DVD players with its Crystal Wave Technology ensure uninterrupted viewing pleasure of even pirated and scratched CDs.
To capture the potential of the ever-growing consumer durable market, Fedders Lloyd Corporation has aggressive plans to roll out their new range of Lloyd brand of consumer electronics and home appliances. The company is aiming to open an extensive dealer and distribution network in major cities across the country. It will have trained after-service sales force to cater to the service needs of consumers. The company plans to put in place 200 service centers across the country in the next two years.
Incorporated in the year 1957 by Punj Group, Fedders Lloyd Corporation had a turnover of Rs. 280 crore, as of 2006.