Elista, a producer of electronics, home appliances, IT and mobile accessories, has entered the refrigerator market with a range of single-door refrigerators, the company announced in a media release on Tuesday.
The refrigerator business in India is rapidly expanding, with a compound annual growth rate (CAGR) of 10.2 per cent expected between 2023 and 2031. Elista expects to develop as the sector expands, focusing on affordability and a longer lifetime with its energy-efficient freezers.
Pawan Kumar, CEO of Elista, said, “We are optimistic that our first refrigerator line-up will achieve the same level of success that our Smart TV range has enjoyed in the Indian market. We are anticipating that this launch will be pivotal in achieving the domestic revenue target of Rs 500 crore from the nation-wide sale by the end of the year 2025.”
The firm has around 400 distributors in India. The firm will offer its new collection through its website, internet platforms, and 20,000 physical stores in India.
Elista has also lately entered the air conditioning market, offering three split AC models. The business expects to earn Rs 50 crore in sales from the sector in its first year of operation.
