Havells to open 50 Galaxy stores by this fiscal

Havells India Limited, a $1.3-billion FMEG (fast-moving electrical goods) company, is looking to increase its market presence in India by adding 50 exclusive Galaxy stores by the end of this financial year, of which 24 will be in south India alone, said joint managing director Anil Gupta. The company currently has a network of 172 Havells Galaxies across the country, including 60 down south. Galaxies contribute close to Rs 500 crore to the company's overall revenues. “We are seeing a strong domestic growth propelled by the rise in demand for electrical equipment and market shifting towards branded products. South India is an important market for us and contributes one-third (Rs 1,200 crore) to our domestic revenues. We expect south to grow 50 per cent by the fiscal end,” he said. As part of its strategy, Havells has launched a new range of domestic appliances, including coffee maker, electric kettle, pop-up toaster, sandwich maker, induction cooker and mixer grinders.