Videocon group, the Rs 6,000 crore consumer electronics major, today inked a distribution and marketing alliance with the US-based York International, the largest independent manufacturer of heating and air-conditioning solutions globally. | |
| Following this tie up, Videocon will launch a new brand called York in the premium air-conditioning market. In the middle segment, the company will introduce York-Videocon brand. |
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| Videcocon has a 10 per cent market share in the air-conditioning market, which is largely derived from the mid-level segment. Its market share is expected to grow to over 12 per cent by December 2005, Nipun Gupta, managing director, Aircon Technologies said. |
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| The brands will be distributed by its distribution company"" Aircon Technologies India. Anthony J Abbot, vice president and general manager, York International Middle East said: "If the initial arrangements work out, we will look at a closer, more fruitful relationship." |
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| However, he refused to commit on a joint venture. Gupta indicated that a joint venture could be in the offing. |
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| Though York International has a subsidiary in India, it has tied up with Videocon. This in keeping with its global strategy to foray into new markets through a well established player in that country. |
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| York India has a presence in the industrial refrigeration sector. |
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| The company's claim to fame includes air-conditioning Pentagon, White House, Euro Tunnel, Petronas twin Towers, Sydney Opera, Kremlin, the Heathrow and Dubai airports. |
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| The pricing for the premium segment has not been declared. For the entry level products, the brands will be priced at Rs 10,000 onwards. A 1.5 ton air conditioner, for instance, will be priced between Rs 23,000 to Rs 45,000. |
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