Dhabhai: Widening reach

New Delhi, March 12: Consumer goods manufacturer Haier Appliances India is planning brand acquisitions to increase its market share.

“We aspire to be one of the top brands in three to five years. The group is looking at brand acquisitions, which will strengthen its position significantly,” Pranay Dhabhai, whole time director and chief operating officer, told The Telegraph.

“We are discussing with a few companies (on acquisitions) but need to talk about valuations, due diligence and synergies before finalising anything,” he said.

The company, which clocked a revenue of Rs 325 crore last year, is aiming at a 70 per cent growth in revenues this year.

“Haier is introducing some products and expanding some of the existing ranges this year. Therefore, we are expecting our revenues to cross Rs 550 crore,” Dhabhai said.

The company has launched a range of air conditioners comprising 16 split AC models and nine window AC models. It has also launched nine refrigerator models in frost-free and direct-cool categories.

Haier has a 2 per cent market share of the four-million-unit-per-annum refrigerator segment and is planning to increase its share to 8 per cent.

Its market share in the two-million-unit-per-annum air conditioner segment is 10 per cent.

Dhabhai said the company was planning to raise production capacity of its refrigerator plant at Ranjangaon, Pune, to one million units from 3.5 lakh units.

The company is also expanding the sales channel for its home appliances business and consolidating its dealer and after sales services network in the country.

“We have 135 after sales service centres in the country and seven call centres to support our distribution network,” Dhabhai said.