Air-conditioning and commercial refrigeration major, Blue Star Limited today announced in Chandigarh the launch of a new range of contemporary, energy-efficient and eco-friendly room air conditioners for the residential segment to shore up its market share in Room ACs.
“We are targeting to achieve a double digit market share in Room Air conditioners and Punjab is a key market for us” said B Thiagarajan, Executive Director & President – AC&R Products Business, Blue Star Limited. He said here today that “the room air conditioners market in India has grown by about 20% in terms of value during this fiscal so far, while Blue Star has outperformed the market growing 30%, thereby increasing its market share. While the market for room air conditioners is expected to grow by around 15% in financial year 2016, considering our track record of outperforming the market, we hope to achieve growth of 25% and achieve a 10% market share. The change in our value proposition to ‘Nobody Cools Better’ is an endeavor to highlight that we have the expertise to surpass consumer expectations in all aspects.”
Thiagarajan said that Blue Star has a legacy of over seven decades in providing expert cooling solutions and has always been a strong contender in the corporate and commercial segment and did not cater specifically to the residential segment. However, four years ago, the Company thought it prudent to enter the residential segment realising that consumers now prefer specialist air-conditioning players rather than general consumer durable brands. The residential segment now contributes to 70% of its overall room air conditioner sales signifying the overwhelming response that the Company has received from the home segment. The Company plans to continue its thrust in this segment with its new line-up for 2015 and is targeting a market share of double-digits in financial year 2016 as compared to the current 8.5%, in terms of value.
C.Haridas, Senior General Manager, Room Air Conditioners division said that Blue Star’s new line-up of room air conditioners comprises over 80 models. As regards to distribution, in 2015, Blue Star’s room air conditioners will be available in 3500 outlets in over 500 locations spread across the country including Tier 3, 4 and 5 markets as nearly half of the Company’s sales come from smaller towns.
