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Fedders Lloyd Corp forays into consumer electronics & home appliances market

Indiantelevision.com Team

(22 March 2007 8:00 pm)

MUMBAI: Fedders Lloyd Corporation Limited, commercial air-conditioning providers, has announced its foray into the consumer electronics and home appliances segment under the brand name Lloyd and with an initial investment of Rs. 500-600 million. The Lloyd range will include air conditioners, microwaves, DVD players and LCD TVs that offer the ' Crystal Wave Technology'.

Available in more than 30 models across all markets in the country, the products will be manufactured in the company's state-of-the-art facilities. To capture the potential of the Indian consumer durable market, Fedders Lloyd Corporation has aggressive plans to roll out their new range of Lloyd brand of consumer electronics and home appliances. The company is aiming to open an extensive dealer and distribution network in major cities across the country. The company will have trained after service sales force to cater to the service needs of consumers. The company plans to put in place 200 service centers across the country in the next two years, states an official release.

Fedders Lloyd Corporation chairman & MD B R Punj said, "Our Company has enjoyed over 50 years of unchallenged leadership in the air-conditioning industry. The launch of Lloyd Appliances is an essential component of our business strategy to capture significant market share in the ever-growing and highly potential consumer durables market. Our corporate philosophy of fearless innovation and uncompromising quality products will ensure that we accomplish our mission to be amongst the top three premium consumer durable brands by 2010."

Speaking about the new 'Lloyd Crystal Wave Technology' product range, Fedders Lloyd Corporation president Pavan Bhargava said, "Lloyd appliances will herald a new change in the consumer durable industry with products that are competitively priced, Futuristic feature led and offer Money for Value. Every product bearing the Lloyd name carries the Crystal Wave Technology to make life simpler and better for our consumers."

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