French electronics brand Thomson, which operates in India through its licensee Super Plastronics Pvt Ltd (SPPL), announced on Thursday that it is set to make a foray into the residential air conditioning segment this this month. The company, which is expanding its presence in the home appliance category, will introduce a range of its split and inverter room air conditioners this month, Thomson said in a statement.
It will launch ACs on its strategic partner Flipkart’s e-commerce platform and aims to capture 10% of the online ACs market in the next three years. Avneet Singh Marwah, CEO of SPPL, said, “As promised, we are adding a new category this year. We are very much looking forward to this launch and the introduction of Thomson air conditioners to the Indian market with our strategic partner Flipkart.”
“In five years, Thomson will invest Rs 500 crore in household appliances alone and by the end of three years, we expect to reach 10% of the online air conditioning market. The company is aggressively studying the Indian appliance market, which is one of the fastest growing.
According to Marwah, there is enough scope to expand in the Indian market in the residential AC segment. “Globally, an average penetration of the air conditioner segment is 30% compared to India at a measly 4%. This gives us a huge opportunity to play,” he said.
Additionally, economic growth and changing lifestyles, among other factors, have increased the need for products such as air conditioning that provide comfort and convenience. “The country is also experiencing soaring temperatures and record hot weather, during the summer season for the past decade, all of which presented a huge opportunity for global brands to enter this segment,” Marwah said.
The Thomson price range for ACs starts at Rs 26,490.
First post: STI