The company said that it expects to expand sales under Standard to Rs 1000 crore in the next 3 to 4 years from about 400 cr last financial year.
Five water heaters, with capacity ranging from 1 ltr to 25 ltr and price tags of Rs 3500 to 14000 have been launched.
“The water heater market in India is expected to be Rs. 1300 Cr – Rs 1500 Cr and is growing at the rate of 12%,” Havells India said. The company already has water heaters under its main brand.
It also announced a new range of switches with prices starting from Rs 38 onwards.
It also announced Standard range of MCBs under the “Aspida” brand. Standard has also started manufacturing premium range of ceiling fans, table‐fans, wall‐mounted fans, pedestal fans and domestic exhaust fans.
“Standard has been a trusted war horse for Havells over the years,” said Abhra Banerjee, Vice President, Havells India Limited, adding that the company is now repositioning it as a ‘youth-centric’ brand.
“In last few years, Standard has changed its strategy and has focused on younger and upwardly mobile users in the market by creating a difference through product design, bold colours and features and constantly creating best in class, innovative and trend setting products.”