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Electrolux to use cricket and movies to leverage corporate image

27-March-2002
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Electrolux to use cricket and movies to leverage corporate image

Following its successful association with IIFA Awards (International Indian Film Academy Awards), Electrolux Kelvinator Ltd. has decided to develop cricket and movies as two long-term properties to drive corporate image. The company is expected to institutionalise a major participation in cricketing activities by mid-April 2002.

The company is also readying to launch an indigenously developed range of frost-free refrigerators in the second half of 2002. This would be complemented by two new model launches with two variants in sub-300 litre frost-free category.

Electrolux Kelvinator, which is a subsidiary of Swedish consumer durable MNC, hopes to post a turnover of around Rs 750 crore-Rs 800 crore in fiscal 2002-03. The advertising and promotion (A&P) expenditure for fiscal 2002-03 is expected to be budgeted around Rs 50 crore.

The association with IIFA Awards — which are staged outside India in exotic locations — has reinforced the corporation’s image as a global company among the Indian audience.

The company is also aiming at a ‘‘quantum jump’’ in washing machine sales. It is targeting to take its marketshare to 10 per cent by the year-end up from five per cent of the 1.1 million washing machine units a year market currently.

While Washy Talky model will be an image-driver, the company is betting on newly launched Libra to provide volumes. The sub-brand Digitron, an electronic semi-automatic washing machine is expected to account for a bulk of sales (around 40 per cent).

Currently, washing machines account for 15 per cent of the company’s turnover and refrigerators around 75 per cent.

Source: Financial Express

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