Home-grown fast-moving electrical goods (FMEG) brand Havells has forayed into the refrigerator segment under its consumer durable brand Lloyd. Designed keeping in mind the modern kitchen aesthetics combined with energy-saving features that adapt to the consumer lifestyle, Lloyd is rolling models in all three categories including direct cool, frost-free and side-by-side refrigerators. Available in capacities ranging from 190 litres to 587 litres, the refrigerators will be available at introductory prices ranging between Rs 10,000 and Rs 84,990.
"The AC market is around Rs 15,000 crore and the refrigerator market is Rs 25,000 crore annually. Lakh refrigerators are sold every month in the country. But only 30 per cent of households have refrigerators in India and 70 per cent still need to go in for refrigerators. Given refrigerator being a necessity item, penetration is much lower," says Shashi Arora, CEO, Lloyd.
Direct cool goes to rural, semi-urban markets more than frost-free. In Direct Cool, Lloyd is introducing three sizes - 200 litres, 225 litres and 250 litres single doors, which is more for tier-2 and 3 towns, distribution markets. The frost-free range will be available in 250 litres, 270 litres, 310 litres and 340 litres. Considering all colours and patterns, Lloyd is introducing a total of 50 SKUs.
"The direct cool market is 75 per cent of the total market. In terms of value, it is around 60 per cent - for obvious reasons as frost-free tends to be more expensive. Our expectations and production are on similar lines," adds Arora.
The new range introduced by Lloyd is equipped with bactshield technology that eliminates bacteria and provides longer-lasting freshness to perishables, which the company believes is a much-needed feature in a tropical country like India. It also features the decacool technology that will ensure cooling in every corner and the flexi max design for more storage needs. The new range is compliant with 2020 energy rating norms coupled with inverter technology and dual safety compressor. Lloyd claims their refrigerators are environment friendly with zero ODP (ozone depletion potential) presence, that helps in reducing its carbon footprint.
"These refrigerators are manufactured through third party manufacturers within the country. The frost-free refrigerators are being manufactured in Jhajjar, and the direct cool is in Pune," adds Arora.
The newly launched refrigerators will come with a one year comprehensive warranty along with a 10-year compressor warranty. The range will be available in Lloyd brand shops across India, with 10,000 dealers and retailers across the country, as well as Lloyd online e-store.
Havells India Ltd acquired the consumer business of Lloyd in 2017 with the intent of going deeper into homes. The acquisition helped Havells further strengthen its presence in the consumer durable industry. The brand has invested in reinventing the brand with the in-house manufacturing capabilities along with a sync up with its R&D facilities. Havells as a brand has been thriving on its Make in India philosophy through its 13 state of the art manufacturing facilities across the country, and has followed the same approach for Lloyd as well.