Backed by product innovation and customer centricity, Haier India eyes a 100 billion turnover by 2024

-          Product innovation is at the core of establishing a strong home appliances and consumer durables brand in India

-          Haier India’s market outlook sits on the back of its expanding manufacturing, sales, and channel capabilities

-          Premiumization, R&D, and technological advancements to bring the best-in-segment products

New Delhi, April 13^th, 2023: Haier Appliances India (Haier India), the global leader in Home Appliances and the World’s Number 1 brand in Major Appliances for 14 Consecutive Years today announced that the brand is targeting a turnover of INR 10,000 crore by becoming a one stop solution for all the home appliances & consumer electronics, by the end of 2024. This is in line with the expected growth of 40% and 30% in revenue in the years 2023 and 2024, respectively.

Haier India’s market outlook is backed by the persistent commitment to product innovation and building manufacturing excellence in the industry. With customer centricity at its core, the company has been able to launch several industry firsts such as 3 Door Side-by-Side (SBS) refrigerator, Bottom Mounted refrigerator (BMR), Glass door refrigerator, Self-Clean Inverter and Anti-scaling technology in Washing Machines, shock-proof technology in water heaters, self-cleaning in Air Conditioners amongst many others. Leveraging a strong research arm to assimilate market feedback and technology-driven solutions by global R&D, the company has built the widest portfolio of home appliances in consumer durables industry in India.

In line with customer demands, Haier has constantly brought the best-in-class products to India by consistently expanding its manufacturing capabilities, strengthening the after-sales service network and building its operational excellence, aligned with its 'Make in India' and 'Made for India' strategy. With the strong presence in refrigerator and washing machines, Haier India plans to take lead in air conditioner and TV as their next biggest growth drivers for the India market.

Focused on premiumization, product innovation and delivering complete range of Smart Home appliances, Haier India, offers a host of smart products, powered by breakthrough technologies making life effective and efficient for customers.

Mr. Satish NS, President, Haier India said, ““We at Haier India, constantly thrive on the ever-evolving IoT/digital and customer transformation trends to bring in the best-in-class innovation that truly benefits the Indian consumers of today. Rooting our alignment with the Government’s ‘Make in India’ initiative, we have one of the largest manufacturing hubs for all domestic supplies in the country and expanding our export base as well. Product innovation and customer-centricity lie at the ethos of our growth trajectory and hence we are focused to bring in the best-in-segment products that are researched, designed, and manufactured in India. With year-on-year growth, an industry-leading product portfolio and, an elevated customer experience, we are set to strengthen our presence in the Indian market to the next level.”

With the recent investments in last few years, the company has built the capacity to roll out 1 million units of Air conditioners, 1.5 million units of Washing machines and 3 million units of Refrigerator annually at its state-of-the-art manufacturing plants located in Greater Noida and Pune. The company has a keen focus on expanding the capacity for overall production by 25% by 2024 supported by second phase of expansion at its Greater Noida plant. The brand is planning to invest Rs 1,500 crore by 2025, for backward integration and localization of components.

Haier India currently boasts of a vast network of 30,000+ sales touchpoints across the country. Focused on achieving 3Xgrowth in next 2 years, Haier India continues to strengthen its position with products driven by innovation, customer centricity, robust after sales service, convenience and ease of living for customers across India.

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ABOUT HAIER INDIA

Established in 2003 in India, Haier Appliances India Private Limited (Haier India), is a subsidiary of the Haier Singapore Investment Holding Pte. Ltd. which is the world’s leading provider of solutions for a better life. Headquartered in Greater Noida, Haier India is one of the leading brands in home appliances & consumer electronics in the country and World’s Number 1 Brand in major appliances for 14 consecutive years. Driven by the brand purpose of ‘Inspired Living,’ Haier India is committed to bring the best-in-segment products for customers, in line with its ‘Make in India’ and ‘Make for India’ philosophy. With almost two decades of expertise in product innovation, Haier has a vast distribution network across the country along with two state-of-the-art manufacturing facilities in Pune and Greater Noida. Backed by the superior technology and customer centricity, the product portfolio ranges from refrigerators, air conditioners, washing machines, LED TVs, water heaters, deep freezers, microwave ovens to kitchen appliances, with a special focus on Indian consumer demands.

ABOUT HAIER GROUP

Established in 1984, Haier Group is a world-leading provider of solutions for a better life. Focusing on user experience, Haier has been included on the list of BrandZ Top 100 Most Valuable Global Brands for three consecutive years as the world’s first and only IoT ecosystem brand. Haier has topped Global Major Appliances Brand Rankings by Euromonitor International for 14 consecutive years. Its subsidiary Haier Smart Home is among the list of Global 500 of Fortune. To date, Haier Group owns three listed companies, and has seven global premium brands such as Haier, Casarte, Leader, GE Appliances, Fisher & Paykel, AQUA and Candy, and the world's first scenario brand THREE WINGED BIRD, built the world's leading industrial Internet platform COSMOPlat. It has successfully incubated 5 unicorn companies and 90 gazelle companies. Moreover, Haier has deployed 10+N innovation ecosystems, 29 industrial parks, 122 manufacturing centers, and nearly 240,000 sales networks, reaching 160 countries and regions and serving 1 billion + user families around the world.

Haier Group is committed to working with its world-class ecosystem partners to continuously build a premium brand, scenario brand, and ecosystem brand, and to set up IoT ecosystems in clothing, food, accommodation, travel, health, elderly care, biomedicine and education, and to tailor personalized smart life for users around the globe.