In a move to address the fast-growing premium segment of the Indian refrigerator market, Godrej group company, Godrej Appliances has ventured into it by launching its new range of ‘NXW’ (Next World) refrigerators.
The company launched a range of three patterns — Inox, Cosmos and Platina — with ‘Just the right temperature’ (JTRT) technology and the products are priced between Rs.49,000 and Rs.79,000. The NXW range allows users to customise their refrigerator by storing food in three flexible temperature zones.
“The Indian refrigerator market is around Rs.13,000 crore and is growing at 33 per cent,” said Kamal Nandi, Business Head, and Executive VP – Godrej Appliances.
“India’s market for premium refrigerators is at around Rs.2,000 crore, growing at 50 per cent annually. It is dominated by Japanese, Korean and American companies, who are importing their products. We are targeting a 15 per cent share of this market in three years.” The NXW range will be made at the company’s manufacturing facility at Shirwal near Pune which has a capacity of 1.5 million units per annum and makes the Eon range. The other manufacturing facility at Mohali, with a similar capacity, makes the mass range ‘Edge’ refrigerators.
The company’s existing range of refrigerators is exported in small numbers to Nepal and Sri Lanka. “The NXW range is export-ready with large freezer size and we will target the Middle East and European markets,” Mr. Nandi said.
