Electronics major Havells India is looking to propel its brand ‘Standard’ on a faster growth trajectory, as part of its multi-brand strategy.
The company hopes to make Standard a ₹10billion brand in the next two years.
Standard, which generated revenues of about ₹4 billion in the last fiscal, has a presence in various categories such as fans, cables, switches and switchgears, among others.
Abhra Banerjee, Vice-President, Havells India, said that in the last two years, Standard has emerged as one of the fastest growing FMEG (fast moving electronic goods) brands. Last year, the sales for Standard grew by 32 per cent and this year we are targeting a 50 per cent growth.
According to Business Line, unlike brand Havells, which appeals to more affluent and older consumers, with Standard, the company aims to woo younger and more upwardly mobile users.
Havells India believes that nearly 50 per cent of Standard sales will come from smaller cities and towns in the next two years.
The company is stepping up distribution of the brand in tier 1-5 towns. It has also developed a separate distribution channel and is trying to create a differentiator through product design, bold colours and features.
