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Wednesday, October 28, 2020

Havells enters into refrigerator segment through its brand Lloyd

Havells acquired Lloyd in May 2017. It has a network of over 10,000 direct and indirect dealers and 485 authorized service centres across the country.

By: PTI | New Delhi | September 24, 2020 4:53:00 pm
Lloyd has introduced 25 new models of inverter technology-based direct cool (DC), frost-free and side-by-side refrigerators and plans to add 25 more by Diwali this year, the company said in a statement. (Image source: My Lloyd)

Consumer electrical goods maker Havells on Thursday announced foray into the refrigerator segment through its consumer durable arm Lloyd.

The move will help Lloyd become a full-fledged consumer durable brand. It already has a presence in air-conditioning, LED TV and washing machine segments.

Lloyd has introduced 25 new models of inverter technology-based direct cool (DC), frost-free and side-by-side refrigerators and plans to add 25 more by Diwali this year, the company said in a statement.

Besides, in November, Lloyd is planning to enter into the dishwasher segment, which has got prominence after the lockdown as people looked for convenience while working from home.

“Today, we are introducing DC, side-by-side, frost-free range of refrigerators to complement other categories, in our attempt to make Lloyd a full-fledged consumer durable brand,” said Lloyd CEO Shashi Arora.

Backed by Make in India vision, the company would produce the entire range of its refrigerators in the country.

Lloyd’s refrigerators will be available in 190-587 litre capacities with an introductory offer price ranging from Rs 10,000- 84,990 and will follow the 2020 rating norms of the Bureau of Energy Efficiency (BEE).

“All this comes at a lower electricity cost due to the latest inverter technology deployed in the newly launched range,” Arora said.

Lloyd is now among the top three brands in the air conditioner segment, it added.

Havells acquired Lloyd in May 2017. It has a network of over 10,000 direct and indirect dealers and 485 authorized service centres across the country.

For 2019-20, the Delhi-based Fast Moving Electrical Goods (FMEG) company Havells reported a revenue of Rs 9,440.26 crore in which Lloyd contributed Rs 1,590.27 crore.

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