Havells India enters into refrigerator space via Lloyd brand
The leading fast‐moving electrical goods (FMEG) company, Havells India Limited, informed the bourses on Thursday that it has entered into the refrigerator segment under its consumer durable brand-Lloyd.
The company also intends to double its range with an additional 25 models by Diwali this year through its strong network of 10,000 dealers and retailers across the country. The refrigerators will be available in capacities ranging from 190 litres to 587 litres, at an introductory offer price range from Rs 10,000 to Rs 84,990.
Backed by the ‘Make in India’ vision, the company will produce all its refrigerators in the country itself thereby, enabling it to bring better quality and relevant customisations for its customers.
Speaking on the occasion, Shashi Arora, CEO of Lloyd stated that the company has a well-known legacy in cooling and is among the top 3 brands in the air conditioners’ segment. He further stated that the newly-launched frost-free range of refrigerators to complement other categories, make Lloyd, a full‐fledged consumer durable brand.
Lloyd, a consumer durable brand, owned by Havells India Ltd, has a bouquet of technologically advanced and aesthetically designed home appliances such as air conditioners, LED TVs, washing machines, and refrigerators. Havells acquired Lloyd in May 2017.
On Thursday, the stock of Havells India closed at Rs 669.20 per share, down by 0.74 per cent or Rs 5 per share on BSE, against a 2.96 per cent decline in the benchmark index. The 52-week high is recorded at Rs 756 and the 52-week low is Rs 447.20 on BSE.