July 24, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

Godrej forays into dishwashers; eyes 15% mkt share by end of 2021-22

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Godrej & Boyce, the flagship company of the Godrej Group, on Tuesday announced its foray into the dishwashers market and is eyeing 15 per cent market share by the end of this financial year in this segment.

The pandemic has upped stress level of consumers significantly. City-based consumers particularly… are juggling their office work with household chores while trying to limit their dependence on domestic help to avoid health risks.

This has led to a surge in effort minimising appliances like dishwashers. We believe that this category will continue to see growth even post pandemic as more and more consumers discover the value this product can add to their lives,” Business Head and Executive Vice President Kamal Nandi told reporters at a virtual press conference.

He further stated that the dishwasher segment is at a very nascent stage and the total market size is expected to cross USD 90 million (Rs 667-700 crore) by 2025-26.

“We are targeting 15 per cent market share by the end of this financial year (2021-22).

This is a premium product and we expect the metro cities like Delhi, Mumbai, Bengaluru and Hyderabad, among others, to initially drive the market for the next couple of years. Then gradually it will be tier II cities,” Nandi added.

The heightened need for personal hygiene and convenience as an outcome of COVID-19, has accelerated awareness and demand for this product segment. In October 2020, we had launched the new Godrej Eon Dishwasher range exclusively on a leading e-commerce platform only for select cities. Now, the entire range is being made available offline as well, pan India,” Rajinder Koul, Product Group Head Dishwashers, Godrej Appliances, further added.

Godrej Eon Dishwasher is available pan-India in 3 variants with a starting price at Rs 37,900 plus taxes.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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