Voltas Beko launches its new range of Home Appliances in India
Deepthi | Myequity news | Date : 13-09-2018 19:15:00 IST
Voltas Limited – A Tata Enterprise, India’s No. 1 AC Brand and Arçelik, a leading player in home appliances industry (part of the Koç Group – Turkey’s largest industrial and services conglomerate), made a thumping entry into the Indian consumer durables market today with the launch of their brand – Voltas Beko. The new company, Voltbek Home Appliances Private Limited (Voltbek), an equal partnership joint venture, has introduced a wide range of home appliances which include Refrigerators, Washing Machines, Microwaves, and Dishwashers.
Voltbek plans to launch over 100 SKUs over the next 3 months including 44 SKUs of Refrigerators, 40 SKUs of Washing Machines, 12 SKUs of Microwaves/Ovens and 7 SKUs of Dishwashers. Voltas Beko has positioned itself as ‘Partners of Everyday Happiness’ with the consumer benefit of ‘Nutrition, Preservation for Refrigerators and Cleaning Efficiency for Washing Machines’. The brand aims to provide its consumers with state of the art innovative products leveraging Voltas’ brand & distribution strength coupled with Arçelik’s global expertise in product development. Mr. Noel Tata, Chairman, Voltas Limited
Speaking on this occasion, Mr. Pradeep Bakshi, Managing Director & CEO, Voltas Limited, said, “We are delighted to announce the launch of the Voltas Beko Home Appliances range for all our valued customers. As a market leader in the AC category, Voltas has always placed customer centricity at the core of all its offerings. Voltas Beko has been built on the same principle aiming to provide best in class products as ‘Partners of Everyday Happiness’. In sync with the government’s ‘Make in India’ initiative, by FY’20 we will be manufacturing these products in the facility at Sanand, Gujarat. We are very happy to partner with Arçelik, whose core competencies complement ours and together we aim to make Voltas Beko the market leader in the white goods space too.”
Mr. Hakan Bulgurlu, CEO, Arçelik, said: “We are extremely excited about this new venture between Beko and Voltas. We strongly believe that Voltas’ trusted brand equity coupled with Beko’s innovative approach to product development is a recipe for success. With a vast population and significant economic growth prospects, India offers huge potential to support our continued plans for global expansion and we are thrilled to be entering the market with such a reputable partner.”
said, “This new venture allows us to offer a wide variety of globally renowned products in the Indian market. Arcelik is a market leader in Europe and is on the cutting edge of innovation in the consumer durable segment. Voltas has established its credentials as a market leader in the AC segment with wide distribution reach and has strong brand recall. Together, we hope the Voltas Beko products will become an integral part of every Indian household.”
As per industry reports, the Consumer Durables market in India is slated to grow at 10–12 percent per annum. The white goods market is currently valued at Rs 43,000-crore (excl. ACs). During the last 10 years, the Indian Major Domestic Appliances market grew by nearly 9 percent (CAGR), surpassing the overall 3 percent growth of global white goods market. About Voltas:
Voltas Limited is a premier air conditioning and engineering solutions provider and a Project specialist. Founded in India in 1954, Voltas Limited is part of the Tata Group, and in addition to Air Conditioners, Air Coolers, Water Dispensers, Water Coolers, and Commercial Refrigeration products; Voltas offers engineering solutions for a wide spectrum of industries in areas such as heating, ventilation and air conditioning, refrigeration, electro-mechanical projects, electrification, water management & treatment, cold chain solutions, building management systems, indoor air quality, textile machinery, and mining and construction equipment. Voltas is among the top ten companies within the Tata group and is the undisputed market leader in room air conditioners in India with market share of more than 23% (as per the latest published reports for FY19).