Thomson Accelerates India Push, Debuts in Refrigerator Segment

Thomson, owned by Talisman Brands, has entered India’s home refrigerator segment and is aiming for a more aggressive expansion in the country’s appliances market.

Following its strong performance in the LED TV category, where India has emerged as its second-largest market globally after France, the Delaware-based firm is now looking to diversify into additional segments, driven by the significant growth potential offered by low product penetration across Indian households.

"India is now part of the fastest growing market over the past several years," Talisman Brands Inc Sales Account Director Sébastien Crombez, highlights.

Though there is a slowdown here, "we still have big hopes for Thomson in India, and this is also the reason why we want to enter into new categories," he said.

"We believe that we could replicate the European success story in the Indian market." Apart from televisions, Thomson has a presence in India across categories such as washing machines, air coolers, toasters, irons, and geysers, among others.

It is also selling Laptops in India through the import route. On whether the brand is hopeful to replicate its success in TV to other categories, Crombez said: "Yes, we are for large domestic appliances, but besides that, we don't have any plan to penetrate further or be aggressive in other segments.”

With the refrigerator, Thomson has entered into the compressor-based cooling space.

On its plan to foray into the room air conditioning space, Crombez said: "Maybe in the next 18 months. This will not be immediate, but this is also in the pipeline.”

In India, Thomson operates through its brand licensee, Super Plastronics Pvt Ltd (SPPL), which currently manufactures its refrigerators via an OEM partner.

SPPL Director and CEO Avneet Singh Marwah said that, as per its strategy, the brand is focusing on affordability and is targeting the gaps in the refrigerator market.

"We are starting with 100 litres. Most of the brands start from 175 litres. So, 100 litres is a very good category. It's not an entry-level product, but it's ideal for consumers who don't want a larger size, and for B2B sales. Similarly, a lot of companies don't have 195 litres. They have 175 or 185 litres," he said.

According to the Markets and Data report, the Indian refrigerator market is projected to witness a CAGR of 10.91% during the forecast period FY2025-FY2032, growing from $2.92 billion in FY2024 to $6.70 billion in FY2032.

SOURCE - PTI