Carrier Midea aims to make splash in AC market

Bets big on Indian summers, eyes 50% rise in revenue in FY16

Betting big on Indian summers, and Carrier Media India, says that it is going to ramp up their business to cash on it.

“ We expect to see a rise of 50 percent in revenue this year,” said Krishan Sachdev, MD at Carrier Midea India. Carrier Midea India is  a 40:60 joint venture between Carrier and Midea group incorporated in 2012. Midea mainly manuactures residential and light commercial air-conditioners and select home appliances like fans, compressor and microovens.

Midea is world’s leading producer of consumer appliances, according to Euromonitor International Consumer Appliances Trade Statistics Database, 2011, with an annual production capacity of 30 million ACs, 32 million microwave ovens, 15 million refrigerators, among a wide range of other ‘living appliances’ across the globe.

“ While last year the ac market grew by 8 percent we witnessed a almost 50 percent growth, this says that despite being a late entrant, we have been accepted well in the mearket, “ said Sanjay Mahajan,VP, Sales and Marketing. The company wants to position Carrier Midea as a mid segment brand in the Indian markets. “ Indian customers accept value-for-money products and hence the company’s innovative products are popular,” he said.

In order to build up its brand presence today it tied up with the Indian Premier League franchisee Royal Challengers Bangalore (RCB) as an official sponsor.

Carrier Midea India’s home appliances brand Midea’s logo will be seen on the team’s jersey for this season. The company plans to cash on this partnership through a series of promotional and engagement initiatives with consumers.

The company’s products are available across 3,000 multibrand outlets across the country. Going foprward, the ompany wants to enter new segment and also plans to have exclusive showrooms.