Home appliances and consumer electronic brand major Haier India aims to be among the top-five brands in the next three years and touch a turnover of Rs 4,500 crore, its top official said today.
Haier, had an almost 8% market share in refrigerator, consumer electronics and washing machine segment with a Rs 800 crore turnover last year.
Eric Braganza, President, Haier Appliances (India), told reporters here the company wanted to increase its market share to at least 10% in three years, targeting Rs 4,500 crore turnover.
The company expected to do a business of Rs 1,500 crore in 2011, he said.
Braganza, here to inaugurate an exclusive store, ninth in Tamil Nadu and 180th in India, said the company exclusive stores would touch the 300 mark by this year end.
He said four or five such stores were planned in Tamil Nadu at more than Rs 100 crore investment.
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Haier, which recently introduced laptops, would soon launch its Chinese imported microwave ovens.
The company also planned to manufacture AC's at its Rajnandangoan factory near Pune from next year, he said.
The factory would increase refrigerator production from 5 lakh to 1 million next year and 1.5 million in 2013, since 35% of the company's turnover was from this segment, Braganza said.