You are here: Home » Companies » News
SoftBank cuts valuation of IPO-bound Oyo by 20% to $2.7 bn: Report
Business Standard

Whirlpool India expects to grow ahead of industry in festival season: Exec

Consumer durables industry coming back in terms after the setback of pandemic, says Vishal Bhola

Topics
Whirlpool India | WHIRLPOOL | Consumer Durables

Pratigya Yadav  |  New Delhi 



Festive season accounts for 30-40 per cent of the total annual sales and its online channel which is stabilised post pandemic accounts for 10-15 per cent
Festive season accounts for 30-40 per cent of the total annual sales and its online channel which is stabilised post pandemic accounts for 10-15 per cent

firm India expects to grow ahead of the industry, predicting a comeback for its mid-priced and premium products as consumers resume spending during .

The company has entered the front-load washing machines category by launching the XpertCare range manufactured at a facility built at Rs 115 crore in Puducherry.

The Indian market is underpenetrated, with just 14 per cent share for the company. In the next decade, the company will focus on replacement and penetration as per consumers' choice, said Vishal Bhola, managing director of India, in Delhi.

The last two years have been volatile for the industry, but with good value and volume growth coming in it will grow in double digits, he said. Consumers everywhere are opting for quality products for their first purchase and the trend is not restricted to metro cities.

“At present washers’ industry size is around 6 million units, out of which, 30 per cent is the front load washing machines share, is one of the three top players whose overall market share is around 75-80 per cent. In the last quarter, we delivered a 55 per cent value growth and 3 times the profit as compared to the previous year and I am hopeful that it will continue,” said Bhola.

The festival season accounts for 30-40 per cent of Whirlpool’s total annual sales and its online channel, which was established after the pandemic, accounts for 10-15 per cent.

The company has already built up inventories for the festival season due to uncertainty about supply chain, oil prices, interest rates and inflation, said Bhola.


Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Thu, September 22 2022. 18:15 IST

RECOMMENDED FOR YOU

.