Orient Electric Ltd on Monday said that it has cloaked a “robust” increase in market share in the premium fans segment from 19% to 35% within one year. The $1.8 billion CK Birla Group entity has grown by 150% in the segment following the launch of new variants in its premium Aero series fans range featuring winglet technology. Premium segment comprises fans priced at over Rs 4000.
“Our Aero Series range of fans in the premium segment has been a runaway success and the growth figures indicate the increasing appetite within Indian consumers for aspirational lifestyle. Based on the strong consumer need identification of silence, high air delivery and premium finish, our design engineers have used aeronautical concepts for developing this amazing product line-up of Aero Series fans. These fans have ABS blades with aerofoil blade design and are enabled with winglet technology which ensures highest air delivery of up to 300 CMM and also impart stunning looks to these fans,” the company’s senior VP & business head for fans Atul Jain said.
Jain added, “We have a complete range of premium fans in different colours and finishes to suit every space and style. Now we are expecting premium fans to contribute to 10% of our total fan sales in the next two years as we build on the portfolio of innovative products. We have an aggressive plan for this year and will increase our business by another 50-60% in this segment.”
Orient Electric is the largest manufacturer and exporter of fans from India with more than 60% share in exports and a presence in over 35 international markets. In the domestic market, it has a well-organised distribution network driven by over 3500 dealers, 1,00,000 retail outlets and a strong service network covering more than 300 cities, it said in a press release.