Consumer electronics major Philips India is looking to expand the footprint of Preethi branded kitchen appliances abroad.
After acquiring the brand in April 2011 from Maya Appliances Private Ltd, Philips had forayed into Singapore market. “Preethi is the market leader in South India. Before acquisition only, it had presence in Middle East, we have just strengthened it and also taken the brand to Singapore. Though it will stand as a subsidiary with the company for some time, the plan is to merge it with Philips in the long run,” said Rajeev Chopra, vice chairman and managing director, Indian subcontinent, Philips Electronics India.
The firm is looking at more countries where the presence of South Indian communities are larger. While strengthening Preethi presence in South India, Philips would remain as the flagship brand.
“There is product sharing also. For example, we have launched some Preethi products in other parts of the country and would utilise the Preethi plants for expanding our portfolio,” he added.
Preethi has a range of products including mixer grinders, induction ovens, irons and electric cookers, while Philips added iron boxes to the range.
Meanwhile, Philips India has posted a 23.2 per cent growth growth in gross income on 12 months ending on March 2012 compared to the financial year 2010-11. The firm is also looking to strengthen its distribution and retail network across tier I and tier II cities.
Chopra added that the firm would continue to push sales across the three core categories lighting, consumer lifestyle and healthcare.
Currently, lighting contributes 55 per cent of the firm’s total revenue, while healthcare contributes about 25 per cent.
