Godrej Appliances, a part of Indian conglomerate Godrej Group, is the first Indian company to manufacture refrigerators. Known for delighting the consumers with innovative, relevant, and green technologies, it has emerged as one of the largest home appliance producers in India. In recent years, the company has widened its product portfolio with freezers, microwave ovens, washing machines, air conditioners, highly specialized medical refrigerators, chest freezers and thermo electric cooling solution and has market coverage in SAARC nations, the Middle East and the African sub-continent. It is the first and only Indian company to phase out ozone-depleting gas refrigerants voluntarily.
With its strong commitment to bringing in relevant technology and delivering on promises of sustainability, it has succeeded in marching ahead in the home appliance industry for 60 years. To mark its 60 years of history, Sanjeev Jain, National Sales Head of Godrej Appliances, visited Nepal to launch a product and attend the dealers' meet. Godrej aims to be among the top three players in Nepal in the home appliances segment by 2020. Bijay Laxmi Duwal of New Business Age caught up with Jain to talk about new Godrej products and market strategies. Excerpts:
What do you think of the home appliances market in Nepal?
The home appliances market in Nepal is vibrant and it is growing. It has a huge potential. Both Indian and Nepali cultures resemble each other which makes it easy for us to understand our consumers very well. Godrej has the will to do better in the Nepali market.
How are Godrej products faring in Nepal? How is Godrej brand expanding its presence here?
After introducing refrigerators first, we have been augmenting the market by offering a complete range of home appliances like air conditioners, chest freezers and washing machines, among others in Nepal. We rank third in the refrigerator business segment in Nepal. Chaudhary Group (CG) has always supported us in terms of upgrading our product portfolio and customer satisfaction.
What is Godrej’s market standing in the home appliances segment?
Godrej holds 13 percent share in Nepal's home appliances market and endeavours to grow further. The estimated market value of Godrej in Nepal is Rs 3.5 billion and it aims to reach a turnover of Rs 7 billion by 2020. We aim to stand amongst the top three positions in Nepal.
What are the USPs of Godrej appliances?
We are very conscious towards customer service and their satisfaction. We are also highly aware of the eco-friendly behaviour at the local level. Godrej is one of the most environment-conscious companies that focus on striking a balance between consumer needs and the environment.
What plans does Godrej have to update its product portfolio in Nepal?
We launched air conditioners, chest freezers and high-end signature series of refrigerators like NXW and Duo Series with the ‘Veggie-door Technology’. Godrej is developing many new technologies and smart products. We have more to offer to the industry and there are works which are in progress. We plan to launch more products in the next two years.
The home appliances market has become very competitive in recent years. What strategies is Godrej deploying to penetrate the market further?
The kind of infrastructure and vision that CG has make us feel that we have partnered with a capable hand in Nepal. We are very proud to be associated with CG. Godrej and CG together will penetrate the market through retailers’ network aiding in our expansion. We also plan to offer consumer-friendly schemes.
How do you evaluate the partnership between Godrej and CG EOL? What are both companies doing to further strengthen this association?
The partnership with CG has been very fruitful and meaningful for us. We have been able to come a long way with CG. We share the same fundamental of business ethics that is beyond sales revenue. The vision and infrastructure of the group has helped us launch new products and increase our service network.
Both CG and Godrej are adopting new market strategies and launching new products. We are going to invest in marketing and devise consumer-friendly schemes and are focused on the expansion of after-sales services.