New Delhi, March 03, 2020: Somany Home Innovation Limited, makers of ‘Hindware Appliances’ has forayed into the ceiling fans category under its popular brand ‘Hindware Snowcrest’ to further strengthen its presence in the consumer appliances segment.
Aimed at delivering a refreshing new look to homes of today’s discerning consumers, Hindware Snowcrest fans are aesthetically designed, custom crafted for modern Indian homes. The fans are available in a lineup of six models under three categories such as Premium, Decorative and Classic at an introductory price range from INR 1499 to INR 2999 and are available at modern trade outlets and e-commerce portals. The fans are equipped with features such as easy to clean dust resistant blades, aerodynamic blades for even air distribution, optimum air delivery at low voltage amongst others. The fans come with a 2-year warranty and are available in four primary colours chocolate gold, metallic being copper and dark walnut bronze and white metallic silver.
After witnessing acceptability and success owing to disruptive technologies and innovative features in Air Purification and Air-Cooling category, Hindware Appliances is expanding its product portfolio in the air treatment business through Ceiling fans.
Speaking on the launch, Mr. Rakesh Kaul, CEO and Whole Time Director, Somany Home Innovation Limited said, “ Our entry into fans category segment is backed by consumer insights, our wide established distribution channel, R&D and product development to cater to our growing customer base. We have joined hands with the finest manufacturing and design facilities in the country and aim to bring products which are well engineered to deliver optimized performances while retaining competitive cost”.
He further added, “We believe in giving ‘power in the hands’ of consumers, and therefore recently have launched Smart (IoT enabled) kitchen chimney, water purifier and water heater. In due time, we will be bringing internet connectivity to our other range of products”.
The total size of the fan market in India is valued at approximate INR 8000 crore, with 110 million units sold every year. Ceiling fans are a common household appliance and this has resulted in a steady double-digit growth of the segment over the years. The fan market in India consists of ceiling, table, wall, pedestal, exhaust and multi-utility fans. Out of which ceiling fan constitutes 77% of the total share. As per India Electric Fan Market Outlook 2022, the revenue for organized electric fan market is growing with a CAGR of more than 10% as compared to the last five years.
Hindware Appliances is one of the fastest growing consumer products in the country ranging from water heaters and water purifiers to air coolers, air purifiers, extractor fans, and kitchen appliances, which are all relevant in the modern consumer lifestyle of today, with each contributing to make better homes a reality in India. Currently, Somany Home Innovation Limited (SHIL) has a network of over 9,250+ retailers and modern retail outlets, 575+ trade partner network and 200+ distributors. Recently, the company expanded its product category into IoT enabled appliances across water purifiers, water heaters and chimneys.
About Somany Home Innovation Limited (SHIL):
Somany Home Innovation Limited (SHIL) is a leading Home Improvement Solutions company in India. The makers of the ‘Hindware Appliances’, the company is listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The company houses a range of products under Consumer Appliances, Home Retail Solutions and Furniture and Kitchen Fittings business.
SHIL’s focus on R&D activities helps the company to enhance capacity to conceive innovative ideas infused with varying degrees of novelty and this has led the company to apply for over 21 patents since its inception.