Brands
Voltas mulls brand extension; may diversify in consumer goods space
KOLKATA: The Tata group-owned cooling company, Voltas, is planning to extend its brand into other product categories. The company may consider diversification in the consumer durables and electronics segment. According to the company, a call is likely to be taken by December this year.
Voltas is presently conducting a study in association with the group owned TSMG for extension of product line.
“Studies are on but we cannot peg a time or name any category. By the end of this year, we might have some idea about extending the brand. We are planning to go for brand extension,” said Voltas CEO – unitary products division Pradeep Bakshi.
However, Bakshi did not mention when the study is likely to be completed.
Also, the company is eyeing further expansion into the overseas market in the Middle East and Africa.
“Our target is to export at least 1,00,000 units in a year over the course of the next two years, which will account for 10 per cent of the annual sales,” Bakshi said.
The company is presently exporting between 25,000 and 30,000 units to its overseas operations annually, which accounts for roughly five per cent of the annual sales.
Voltas will also go for marginally hiking its prices of air conditioners by two—three per cent in face of rising forex imbalance and government taxes by mid-February. “Our forex and government taxes have gone up by five per cent. While we will absorb a part of this, the prices of our air conditioners (AC) will go up by two—three per cent in the middle of February,” Bakshi said.
In case taxes go up further, which will add to input cost, the retail prices of the ACs may head further north, he added.
Experts feel that the Union Budget 2016 is likely to lay out a roadmap for what is important for the BJP-led government at the Centre.
While the company continues to enjoy market leadership position in the AC segment at 25 per cent by sales figures, its biggest challenge is lack of diversified products. It should be noted that Voltas had quit the consumer refrigeration business in 1998-99.
Voltas registered an annual growth rate of 12 per cent selling nearly one million ACs in 2014 and is optimistic about closing the current fiscal on a good note.
“We are also focusing on strengthening our channel partner base and opt for brand shops to further increase our presence,” Bakshi said.
Brands
Home Essentials raises Rs 70 Cr in pre-series B round
360 One Asset leads funding as D2C brand scales stores and supply chain
GURGAON: Home Essentials, a fast-rising direct-to-consumer brand in India’s home and kitchen space, has secured Rs 70 crore in a pre-series B funding round led by 360 One Asset, with participation from existing backer India Quotient.
The fresh capital is set to fuel the company’s next phase of growth, with a clear focus on offline expansion, supply chain muscle, and sharper product innovation. Over the next three years, the brand plans to scale revenue to Rs 500 crore and reach five million Indian households.
Founded in 2024 by brothers Tanishq Jain and Divyam Jain in Gwalior, Home Essentials has moved swiftly from small-town start-up to national contender. Built on a simple but compelling idea that Indian homes deserve products that are practical, pleasing to the eye, and fairly priced, the company has carved out a niche between high-end luxury labels and no-name utility goods.
From airtight storage solutions to ergonomic loose furniture, its design-first approach has struck a chord with a young, aspirational consumer base. In under two years, the brand has served more than a million customers while maintaining strong unit economics and a clear path to profitability.
Offline retail now forms a key part of the growth blueprint. The company plans to operate 20 stores across India by the end of the year, strengthening its omnichannel presence and bringing its tactile, experiential format to both Tier 1 and Tier 2 cities.
360 One Asset senior fund manager Sumit Jain said, the brand is reshaping a highly fragmented category with products that combine aesthetics and function. He noted that the founders have demonstrated disciplined execution and capital efficiency while building a business that resonates with modern Indian households.
India Quotient partner Madhukar Sinha, added that the firm backed Home Essentials early after identifying a clear gap in the market for thoughtfully designed yet affordable home utilities. He said the new funding would help the company expand its catalogue and broaden its national reach.
For Home Essentials co-founder and CEO Tanishq Jain, the mission is straightforward but ambitious. He said the company aims to become the go-to destination for well-designed home and kitchen essentials, with experiential stores reinforcing what began as a strong online play.
Co-founder and chief marketing officer Divyam Jain, emphasised that winning in India’s D2C space requires more than sharp branding. A deep understanding of consumer aspiration, tight supply chain control, and operational efficiency are just as vital, he said, describing 360 ONE Asset and India Quotient as partners in building a high-performance organisation.
In a category long defined by cluttered shelves and uneven quality, Home Essentials is betting that good design, fair pricing, and disciplined execution can turn everyday living into a more polished affair.
