Haier India Claims to Achieve 100 Billion Turnover by 2024
This mega target chase is kept by Haier India, considering it's market outlook which sits on the back of its manufacturing, sales, and channel capabilities.
Haier Appliances India (Haier India) is targeting a turnover of INR 10,000 crore by becoming a one stop solution for all the home appliances & consumer electronics, by the end of 2024. This is in line with the expected growth of 40% and 30% in revenue in the years 2023 and 2024, respectively.
Haier India’s market outlook is backed by the persistent commitment to product innovation and building manufacturing excellence in the industry. With customer centricity at its core, the company has been able to launch several industry firsts such as 3 Door Side-by-Side (SBS) refrigerator, Bottom Mounted refrigerator (BMR), Glass door refrigerator, Self-Clean Inverter and Anti-scaling technology in Washing Machines, shock-proof technology in water heaters, self-cleaning in Air Conditioners amongst many others. Leveraging a strong research arm to assimilate market feedback and technology-driven solutions by global R&D, the company has built the widest portfolio of home appliances in consumer durables industry in India.
In line with customer demands, Haier has constantly brought the best-in-class products to India by consistently expanding its manufacturing capabilities, strengthening the after-sales service network and building its operational excellence, aligned with its ‘Make in India’ and ‘Made for India’ strategy. With the strong presence in refrigerator and washing machines, Haier India plans to take lead in air conditioner and TV as their next biggest growth drivers for the India market.
Focused on premiumization, product innovation and delivering complete range of Smart Home appliances, Haier India, offers a host of smart products, powered by breakthrough technologies making life effective and efficient for customers.
Mr. Satish NS, President, Haier India said, “We at Haier India, constantly thrive on the ever-evolving IoT/digital and customer transformation trends to bring in the best-in-class innovation that truly benefits the Indian consumers of today. Rooting our alignment with the Government’s ‘Make in India’ initiative, we have one of the largest manufacturing hubs for all domestic supplies in the country and expanding our export base as well. Product innovation and customer-centricity lie at the ethos of our growth trajectory and hence we are focused to bring in the best-in-segment products that are researched, designed, and manufactured in India. With year-on-year growth, an industry-leading product portfolio and, an elevated customer experience, we are set to strengthen our presence in the Indian market to the next level.”
With the recent investments in last few years, the company has built the capacity to roll out 1 million units of Air conditioners, 1.5 million units of Washing machines and 3 million units of Refrigerator annually at its state-of-the-art manufacturing plants located in Greater Noida and Pune. The company has a keen focus on expanding the capacity for overall production by 25% by 2024 supported by second phase of expansion at its Greater Noida plant. The brand is planning to invest Rs 1,500 crore by 2025, for backward integration and localization of components.
Haier India currently boasts of a vast network of 30,000+ sales touchpoints across the country. Focused on achieving 3X growth in next 2 years, Haier India continues to strengthen its position with products driven by innovation, customer centricity, robust after sales service, convenience and ease of living for customers across India.