Westinghouse forays into India, to invest Rs.70 crore

November 11th, 2011 - 6:31 pm ICT by IANS  

New Delhi, Nov 11 (IANS) US-based consumer durable to nuclear power firm Westinghouse Electric Corporation Friday announced its foray into the Indian home appliances market and said it plans to invest Rs.70 crore in the next three years.

“We are confident that Westinghouse will strike an instant chord with the Indian consumers as it provides for an unparalleled experience with Westinghouse products,” said Bert Doornmalen, chairman and founder, W-Lifestyle Limited and Mapana Middle East FZCo.

The operations in India come under Mapana Middle East FZCo and W-Lifestyle Limited which are the global licensees of the brand. The operations are headquartered in Hong Kong.

The products range in the mid and premium segment including small domestic appliance, personal care, garment care, heaters, baby care and fans. By 2013 the company would also launch other product lines including air conditioning and lightning.

Of the total investment, the company plans to spend Rs.20 crore into brand awareness promotional campaigns including advertisements and exhibitions. It is expecting a turnover of Rs.200 crore by the end of third year.

The consumer electronics market in India currently is a $10.4 billion industry.

The company also said that products like the master chef mixer which does chopping and cooking at the same time, and an electric pressure cooker with an LCD display which does pressure cooking, slow cooking and rice cooking and has an auto keep warm function are introduced for the first time in India.

The company will be launching its products in phased manner beginning with Delhi NCR, Chandigarh, Jalandhar and Ludhiana in the first phase beginning Monday, followed by Chennai, Bangalore, Hyderabad, and Cochin by January in the second phase.

The company will step into Mumbai and Ahmedabad by March and there after into the eastern region by July.

The company plans to go pan-India by 2013, primarily with the help of traditional distribution channels, modern retail channels, institutional channels and online sales.

“Our endeavour is to provide affordable products for the contemporary kitchen that minimize to eliminate labour intensive or manual processes and simultaneously augment the lifestyle,” said CEO and director, India operations R. Venkat.

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