Consumer durables-maker Kenstar, which forayed into the air conditioner category this year, is targeting to grab a 4 per cent market share with total revenues of Rs 500 crore this calendar year.
Speaking to Deccan Herald, Kenstar President Rahul Sethi said that the company wants to solidify its position in the air conditioner market and expand its portfolio.
“Kenstar, which started its operations in 1996, wants to position itself in the home appliances niche which caters to the demands of consumer health, happiness, and comfort. We will transform the company into a solution provider in the niche first, and then look at technological advancements,” Sethi said.
The company has launched four models in the one-tonne to 1.5-tonne capacity split AC category that would be sold through ecommerce major Amazon.in.
“We are planning two more launches in this category this year as India is witnessing growing demand for cooling systems. The overall AC market in India is expected to reach four million units in 2015 (it was 3.3 million units in 2014). We will sell 200,000 units this year,” Sethi said.
Kenstar AC is priced between Rs 20,990 and Rs 25,990 and boast of three to five-star BEE ratings. “We already have 22 per cent to 24 per cent market share in the air cooler segment and our new initiatives in AC will give us more market access,” he said.
Kenstar, which has products across the kitchen, cooking, fabric care, heating and cooling solutions segments, is leveraging its research and development (R&D).
“The home appliances industry is moving towards connected devices with mobile playing a major role. Kenstar is making efforts to address these challenges and add on more products,” Sethi said.
On investments, Sethi said the company has two manufacturing plants in Maharashtra and Himachal Pradesh. “We have added new assembly lines to take on fresh demands and we are going for other additional investments in the course of time.”
The company has 63 sales and service offices, 425 service franchisees, and more than 3,500 trade partners.
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