Lloyd to enter refrigerator market boosting its consumer durables portfolio

Consumer durable brand Lloyd, owned by Havells India, will be foraying into India's Rs 15,000 crore refrigerator market in the next 1-1.5 years. The company will be boosting its consumer durables portfolio by entering this market.

Havells is expecting its non-AC portfolio to grow and contribute around 50-60% of the revenue from the Lloyd business.

Anil Rai Gupta, Chairman and Managing Director, Havells India, said, "ACs are the strongest revenue contributors in our portfolio, but we expect the non-AC business to pick up as well. As a result, even as revenue will continue to increase, the contribution of non-AC business will go up. It will take another 1-1.5 years for us to launch refrigerators."

Presently, AC sales account for 70% of the total business Llyod generates for Havells India. It commands 3% of the total white goods market in India, pegged at around Rs 60,000 crore.

"We have been seeing a 20 per cent growth in the Lloyd business and expect to maintain a 15-20 per cent growth from this segment in the coming few years," Gupta further stated.