Faced with operating losses and falling market share in the domestic appliances market, the privately-held Rs 600-crore Godrej Appliances (GAL) is looking overseas for recourse.
With its maiden international foray in Sri Lanka giving reasonable returns, the company is hoping to extend its global identity to other countries. GAL has identified Bangladesh , Nigeria , Tanzania , Iraq and Dubai as potential markets for overseas forays, some of which are expected to be formalised within 6 months. GAL is in process of appointing distributors for these nations, said SK Ghatak, E-VP, GAL.
GAL has sold 7,500 units of frost-free and direct cool refrigerators, and about 800 units of washing machines there. The firm has invested about Rs 50 lakh for brand building in Lanka. The Lankan market for fridges is about 1.25 lakh units. GAL has projected a market share of 15% for fridges in its first full year of operations.
From The Times Of India