Lloyd, a consumer durables brand from Havells India, on Tuesday introduced its industry-first designer Lloyd Stellar & Stylus air conditioner range, alongside refrigerators equipped with Rapid Cool Technology.
Additionally, the brand introduced its latest novante fully automatic washing machines and expanded its Google QLED TV lineup.
Alok Tickoo, Executive Vice President, Lloyd, said, “We are delighted to launch India’s first designer Stellar & Stylus air conditioner range, showcasing our relentless pursuit of excellence and innovation. These premium air conditioners epitomize our vision of blending style with functionality, offering consumers the ability to personalise their living spaces while enjoying superior cooling technology.”
While talking about the market share the spokesperson stated that Lloyd is in the bracket where it is selling more than 10 lakh ACs per annum, with this its market share is growing year after year.
According to Yogesh Kumar Gupta, Executive Director, Havells India, last year the company sold around 1 crore ACs and currently it penetrated around 8 per cent of the Indian market.
While acknowledging the bad summer last year Gupta said, “We were expecting a good summer last year untimely rains spoiled the demand that time but yes this year we are expecting that the summer will be good and therefore we expect good growth.”
He further stated that the company is seeing some demand in southern states, mid-India is still a little not very good and north is having almost zero demand for ACs as in most of the households the fans are not even started.
Havells acquired Lloyd in 2017 and since then Llyod reported more than doubled revenue.
“Havells acquired Lloyd in 2017 and since then we have more than doubled the revenue from Rs 1400 crore to Rs 3200 crore last year. We have increased our market share in all product categories and established Lloyd AC in the top 3 brands in India today,” Gupta highlighted.
The company extended its manufacturing operations beyond the Ghiloth facility, which produces air conditioners and washing machines and has recently launched a new air conditioner manufacturing plant in Sri City. This facility boasts an annual production capacity of 1 million air conditioners, thereby increasing the company’s total annual production capacity to 2 million units.
Currently, the brand is also making significant strides on the international front, exporting its world-class air conditioners to 30 countries.
