Somany Home Innovation eyes 5 per cent share in fan market

Hyderabad, March 4 () Somany Home Innovation Ltd(SHIL), makers of 'Hindware Appliances' has forayed into theceiling fans category under 'Hindware Snowcrest' brand and waseyeing five per cent share of the domestic fan market in thenext four years, a senior company official said on Wednesday.

The fans are available in a lineup of six models underthree categories-- Premium, Decorative and Classic.

"Our entry into ceiling fans category segment is backedby consumer insights, our wide established distributionchannel, R&D and product development to cater to our growingcustomer base," SHIL CEO and Whole Time Director Rakesh Kaultold reporters here.

"In the next three-four months we will be launching theentire range which is table fans, exhaust and wall fans.

We are targeting a five per cent market share of thiscategory in the next three-four years," he said.

Reacting to a query on turnover, he said Somany HomeInnovation Ltd would clock anywhere between Rs 530 to Rs 540crore by the end of the current fiscal (March 2020).

"Over a period of next five years, my expectation is thefans business would be that it should contribute 10 per centof the SHIL business," Kaul said.

Currently, Somany Home Innovation Ltd has a network ofover 9,250 retailers and modern retail outlets, 575 plus tradepartner network and over 200 distributors. VVKROH ROH