Godrej eyes a bigger piece of Onam-sales pie

KOCHI: Home appliances maker Godrej Appliances is expecting Rs 120 crore revenues from Kerala during Onam festival, said Kamal Nandi, executive vice president for marketing and sales. He was talking to reporters after the national-level launching of Edge Pro, the company's new energy efficient refrigerator, in Kochi on Thursday.
"We generated Rs 80 crore revenues from Kerala during last Onam and we expect to achieve Rs 120 crore during the current season," Nandi said.Godrej Appliances had a total turnover of Rs 2,000 in last fiscal and expects it to reach Rs 2,500 - 2,600 crore this fiscal, he added.
Nandi said the company is getting good response for the brand and hence opted to do the national launching of the new refrigerator in Kochi. "This product will only be available to Kerala market till the end of August and then only we will take it to other parts of the country. Currently, we enjoy 20% market share in the refrigerator category in Kerala, and with the new fridge, we hope to increase the market share by 5 - 6%," Nandi said.
The rupee devaluation has forced the company to postpone its entry into the flat-panel television segment, said Nandi. The pilot project was launched in few select states, but due the depreciation, the company stopped it, he said. Onam sales contribute 25 - 30% of the company's national revenues, revealed Ramesh Chembath, assistant VP for marketing. "South Indian states contribute 30% of the annual turnover of the company and except for Andhra Pradesh, the market is growing in other Southern states," he said.
Nandi also launched Godrej's Onam offers with a daily lucky draw for Rs one lakh in the season.