New Delhi,
March 05, 2020: Somany Home
Innovation Limited, makers of ‘Hindware Appliances’has forayed into the ceiling
fans category under its popular brand ‘Hindware Snowcrest’ to further
strengthen its presence in the consumer appliances segment.
Aimed at delivering
a refreshing new look to homes of today’s discerning consumers, Hindware Snowcrest
fans are aesthetically designed, custom crafted for modern Indian homes. The
fans are available in a lineup of six models under three categories such as Premium,
Decorative and Classic at an introductory price range from INR 1499 to INR 2999
and are available at modern trade outlets and e-commerce portals. The fans are
equipped with features such as easy to clean dust resistant blades, aerodynamic
blades for even air distribution, optimum air delivery at low voltage amongst
others. The fans come with a 2-year warranty and are available in four primary
colours chocolate gold, metallic being copper and dark walnut bronze and white
metallic silver.
After witnessing
acceptability and success owing to disruptive technologies and innovative
features in Air Purification and Air-Cooling category, Hindware Appliances is expanding
its product portfolio in the air treatment business through Ceiling fans.
Speaking
on the launch, Mr. Rakesh Kaul, CEO and Whole Time Director, Somany Home Innovation
Limited said, “Our entry into fans category segment is backed by consumer insights,
our wide established distribution channel, R&D and product development to
cater to our growing customer base. We have joined hands with the finest
manufacturing and design facilities in the country and aim to bring products
which are well engineered to deliver optimized performances while retaining
competitive cost”.
He further added, “We believe in giving ‘power in the hands’ of consumers, and therefore recently have launched Smart (IoT enabled) kitchen chimney, water purifier and water heater. In due time, we will be bringing internet connectivity to our other range of products”.
The total size of the fan market in India is valued at approximate INR 8000 crore, with 110 million units sold every year. Ceiling fans are a common household appliance and this has resulted in a steady double-digit growth of the segment over the years. The fan market in India consists of ceiling, table, wall, pedestal, exhaust and multi-utility fans. Out of which ceiling fan constitutes 77% of the total share. As per India Electric Fan Market Outlook 2022, the revenue for organized electric fan market is growing with a CAGR of more than 10% as compared to the last five years.
Hindware Appliances is one of the fastest growing
consumer products in the country ranging from water heaters and water purifiers
to air coolers, air purifiers, extractor fans, and kitchen appliances, which
are all relevant in the modern consumer lifestyle of today, with each
contributing to make better homes a reality in India. Currently, Somany Home
Innovation Limited (SHIL) has a network of over 9,250+ retailers and modern
retail outlets, 575+ trade partner network and 200+ distributors. Recently, the
company expanded its product category into IoT enabled appliances across water
purifiers, water heaters and chimneys.