By 121 News Reporter
Chandigarh 03rd March:- Blue Star Limited, has announced today the launch of a new range of contemporary, energy-efficient and eco-friendly room Air Conditioners for the residential segment. These Air Conditioners, apart from sophisticated features, array of colours and state-of-the-art technology, offer considerable power savings.
Speaking to the Press at a conference held at Chandigarh, B Thiagarajan, Executive Director & President – AC&R Products Business, Blue Star Limited said, that Blue Star, which has a legacy of over seven decades in providing expert cooling solutions, has always been a strong contender in the corporate and commercial segment and did not cater specifically to the residential segment. However, four years ago, the Company thought to enter the residential segment realising that consumers now prefer specialist Air Conditioning players rather than general consumer durable brands. Further, the Company had significant potential to make deep inroads in this segment, given the strong brand equity that Blue Star enjoys amongst home buyers due to its rich pedigree. He added that the room Air Conditioners market in India has grown by about 20% in terms of value during this fiscal so far, while Blue Star has outperformed the market growing 30%, thereby increasing its market share. Blue Star is a strong contender in the consideration set of the discerning consumer, and several home consumers have instilled their faith in us. We find that consumers are becoming more conscious about power savings as well as longevity of the Air Conditioners and are willing to pay a premium for these benefits. Blue Star has been focusing on these parameters in order to maximize value. The change in our value proposition to 'Nobody Cools Better' is an endeavour to highlight that we have the expertise to surpass consumer expectations in all aspects. While the market for room Air Conditioners is expected to grow by around 15% in FY16, considering our track record of outperforming the market, we hope to achieve growth of 25% and achieve a 10% market share.
B Thiagarajan, said that this initiative met with resounding success and Blue Star's room Air Conditioners sales has grown considerably, outperforming the market year-on-year. In fact, the residential segment now contributes to 70% of its overall room airconditioner sales signifying the overwhelming response that the Company has received from the home segment. The Company plans to continue its thrust in this segment with its new line-up for 2015 and is targeting a market share of double-digits in FY16 as compared to the current 8.5%, in terms of value. He added that Blue Star's new line-up of room airconditioners comprises over 80 models. Apart from being energy efficient, the range of split airconditioners for 2015 has a stylish look with multi-colour options in the 3-star and 5-star models such as pearl white, champagne gold and wine red to appeal to home consumers. In addition, the new range boasts of several features including i-feel for comfort where one sits, seven filters for ultra-pure air, turbo operation, hidden display, long distance piping, auto mode, dry mode, sleep mode, blow/self clean function, elegant remote control, rust-resistant construction, self diagnosis, scroll compressor and acoustic insulation on compressor, amongst others.
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