Khaitan electricals Ltd is foraying into the highly competitive retail space with the launch of Khaitan City and Khaitan Fantasy. The Khaitan City outlets will be open within a week’s time, while the Khaitan Fantasy will open by January 2007. While Khaitan City will be a one-stop shop for electrical solutions, Khaitan Fantasy will retail designer fans for its hi-end segment.
Sunil Khaitan, Vice-Chairman and Managing Director, Khaitan Electricals Ltd, said, “With the boom in the retail sector, we felt that these initiatives are very much the order of the day. The opening of these outlets would bring us closer to the customer, something which we had anticipated over a long period of time. In fact, we are in the process of stepping up our retail outlets to cover the length and breadth of the country.”
The company has also recently diversified into the highly competitive electrical segments industry like isolators, distribution boxes, miniature circuit breakers (MCB) and residual current circuit breakers (RCCB), apart from the fans business. A range of domestic appliances like water heaters, mixers, irons and adhesive tapes have also been launched.
The company plans to diversify into pumps, lights, cables, wires, circuit breakers and home appliances in the future. The company enjoys 15 per cent share in its fan business in the national market and sells over approximately 1.7 million fans every year.
It also exports fans to neighbouring countries, which contributes to more than 10 per cent of the company’s total sales. Khaitan Electricals is also in the process of setting up a new manufacturing unit in Kala Amba, Himachal Pradesh.