Godrej aims to be top 3 player in front load washing machines

Godrej Appliances has set a target of garnering 10 per cent marketshare in front loadwashing machines by 2020 as part of its plan to be a top three player in this category, a company official said today.

The firm currently has a presence in automatic and top load washing machines, Godrej and Boyce Manufacturing Company Assistant General Manager-Marketing Lancelet L J Mendonca said.

"With this launch, we are having presence in all the segments," he told reporters after unveiling the company's first front load washing machine under the sub-brand "Eon".

The industry has been witnessing growth in the front load washing machine category with an annual rate of 16 per cent year-on-year, he said.

To a query, he said, the overall washing machine volume was around 60 lakh units of which 7.2 lakh units comprise front load washing machines.

According to company Sales and Marketing, Zonal Business Head, Junaith Babu, Tamil Nadu and Maharashtra account for 30 per cent of revenues each, from all business categories (air conditioning, washing machine and refrigerator).

To a query, he said the company aims to be a leading player in the front loading washing machine category by 2020. "We expect to be the top 3 player in this segment over the next three years."

Noting that the washing machine segment was contributing 15-20 per cent to the company's overall revenues, Mendonca said "Last year, the revenue was Rs 3,100 crore in FY16-17. This year (FY2017-18) we are expecting Rs 3,500 crore."

The front load washing machine launched today was manufactured at the company's facilities near Pune and Mohali.

The washing machines are priced from Rs 27,000 to Rs 34,000 and would be available at the company's 30,000 outlets present across the country, he added.