Somany Home Innovation eyes 5 per cent share in fan market

Somany Home Innovation Ltd (SHIL), makers of 'Hindware Appliances' has forayed into the ceiling fans category under 'Hindware Snowcrest' brand and was eyeing five per cent share of the domestic fan market in the next four years, a senior company official said on Wednesday. The fans are available in a lineup of six models under three categories-- Premium, Decorative and Classic.

"Our entry into ceiling fans category segment is backed by consumer insights, our wide established distribution channel, R&D and product development to cater to our growing customer base," SHIL CEO and Whole Time Director Rakesh Kaul told reporters here. "In the next three-four months we will be launching the entire range which is table fans, exhaust and wall fans.

We are targeting a five per cent market share of this category in the next three-four years," he said. Reacting to a query on turnover, he said Somany Home Innovation Ltd would clock anywhere between Rs 530 to Rs 540 crore by the end of the current fiscal (March 2020).

"Over a period of next five years, my expectation is the fans business would be that it should contribute 10 per cent of the SHIL business," Kaul said. Currently, Somany Home Innovation Ltd has a network of over 9,250 retailers and modern retail outlets, 575 plus trade partner network and over 200 distributors..

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