Diversified US engineering, power and consumer durables group Westinghouse Electric Corporation today announced its entry into the Indian home appliances market with the launch of kitchen appliances, including mixer, electric pressure fryer, grill and microwave oven.
Westinghouse will manage its India operations through its global licensees, Hong Kong-based W-Lifestyle Ltd and Dubai-based Mapana Middle East FZCo. The company, however, will invest around Rs70 crore on marketing and product development in India in the next three years.
The company, which is targeting emerging economies to boost sales, said it expects Rs200 crore sales in India in the next three years. The company plans to introduce its air-conditioner brands in India in the near future.
''Our goal is to achieve sales of Rs200 crore by 2014. We are launching our products in a phased manner starting with North India. By 2013, we expect to go pan-India,'' Westinghouse Appliances' sales and marketing head R Venkat said at the launch of the products.
''Going ahead we believe that 30-40 per cent of our revenue will come from emerging markets. While there are already big players in India, we feel that this is the right time to enter as the country still lacks varieties in products,'' W-Lifestyle Limited and Mapana Middle East FZCo Chairman and Founder Bert Doormalen said.
For the present, the company will supply products through its global distributors and position its products in the mid and premium segments of the market. The products will be made available through traditional retail outlets.
Westinghouse offers a wide range of home appliances, including house fridge, house washer, dishwasher, house refrigerators, wine coolers, air conditioners, microwave ovens, washer and dryer that are procured from White Westinghouse of USA.
Westinghouse Electric Corporation had global sales of $2.6 billion last year, with presence in various segments, including consumer electronics, lighting and domestic appliances.