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Crompton Greaves Consumer eyes premium fans

Crompton Greaves Consumer Electricals Ltd. (CGCEL), which demerged from its parent firm Crompton Greaves last year, is focusing on premium fan segment to drive growth. “Currently, the premium fan segment enjoys a market share of seven per cent,” said Mathew Job, CGCEL chief executive officer. “While the market is growing by seven to per cent, we are growing in double digit. Our aim is to double our market share in two years. This we are going to achieve through innovation and marketing drive.” CGCEL, which clocked a turnover of Rs.3,600 crore last year, provides a wide range of solutions across four product lines — fans, lighting, residential and agricultural pumps and home appliances. Southern states account for 40 per cent of sales and rest comes from west and north. “We are a market leader in fans and residential pumps. Fans account for 40 per cent of sales revenue and it commands 25 per cent market share.”

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Printable version | Oct 31, 2020 1:53:30 PM | https://www.thehindu.com/business/Crompton-Greaves-Consumer-eyes-premium-fans/article16666685.ece

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