CK Birla group firm Orient Electric expects super premium fans to contribute to 10 per cent of its total fan sales in the next 2-3 years as it builds on the portfolio of innovative products.
“We expect super premium fans, which are priced above Rs 3,500, to contribute to 10 per cent of total fan sales. This segment we feel will grow exponentially in the time to come. Super premium fan is a small category and accounts for just 2 -3 per cent of total fan sales,” Orient Electric CEO Rakesh Khanna told PTI.
Khanna said while the company offers a wide range of fans in the portfolio, it expects the ‘Aero’ series to re-define the market and drive future growth.
Last fiscal, Orient Electric’s turnover stood at Rs 1,400 crore.
Presently, the company gets 70 per cent of revenue from fans, followed by lights which contribute around 20 per cent and rest 10 per cent is from durables and switches.
The company, which demerged from its parent firm Orient Paper and Industries earlier this month, will soon be listed on stock exchanges.
Orient Electric today launched Aerostorm premium fans exclusively through Amazon at maximum retail price of Rs 5,990. It is also offering discounts and cashback for Amazon buyers.
Khanna said though fan sales through online channel account for just 1 per cent of the total sales, it is expected to reach 5 per cent in 2 years time.moneycontrol