LMCA’s Westinghouse small appliance licensee targets 5% market share in India
New York (October 8, 2017) Westinghouse Electric Corporation has entered the small appliances segment in India through its brand licensee Amerex. Amerex is presently investing in branding and marketing for Westinghouse, which entered India in 2017. The company is offering products like sandwich makers, electric kettles, mixer grinders and irons, among others.
“We are aiming to have around 4 to 5 percent market share in the small appliances segment in next five years,” Westinghouse Small Appliances India CEO Sachin Goel told The Economic Times.
“The Indian small appliances market is estimated to be around Rs 10,000 crore and is growing at about 20 per cent every year,” he added.
This segment is highly competitive and price sensitive and is presently dominated by players like Philips, Bajaj Electricals, Usha and Morphy Richards.
Amerex expects sales of Rs 45 crore this fiscal from Westinghouse products.
The company is presently in the process of expanding its retail network and fill the gaps in its offerings in the segment.
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