New Delhi, Jan 16 (PTI) CK Birla group firm OrientElectric expects super premium fans to contribute to 10 percent of its total fan sales in the next 2-3 years as it buildson the portfolio of innovative products.
"We expect super premium fans, which are priced above Rs3,500, to contribute to 10 per cent of total fan sales. Thissegment we feel will grow exponentially in the time to come.
Super premium fan is a small category and accounts for just 2-3 per cent of total fan sales," Orient Electric CEO RakeshKhanna told PTI.
Khanna said while the company offers a wide range of fansin the portfolio, it expects the 'Aero' series to re-definethe market and drive future growth.
Last fiscal, Orient Electric's turnover stood at Rs 1,400crore.
Presently, the company gets 70 per cent of revenue fromfans, followed by lights which contribute around 20 per centand rest 10 per cent is from durables and switches.
The company, which demerged from its parent firm OrientPaper and Industries earlier this month, will soon be listedon stock exchanges.
Orient Electric today launched Aerostorm premium fansexclusively through Amazon at maximum retail price of Rs5,990. It is also offering discounts and cashback for Amazonbuyers.
Khanna said though fan sales through online channelaccount for just 1 per cent of the total sales, it is expectedto reach 5 per cent in 2 years time. PTI SVKANU.
This is unedited, unformatted feed from the Press Trust of India wire.