As part of its strategy, the company said it would continue to focus on the affordability with aggressive pricing and harness the potentials of e-commerce channels.
“We would be investing Rs 1,000 crore in the next five years to create facilities for production and product expansion,” SPPL Chief Executive Officer Avneet Singh Marwah told .
The investment would be done through internal accruals only, he said.
“We would have a state-of-the-art factory, where we would be manufacturing appliances,” said Marwah adding that the company plans to expand its product line in the appliances segment in a phased manner, starting with washing machines.
This would be the fourth plant of Super Plastronics, which is coming in Uttar Pradesh, where the company has been allotted land by the state government at the Delhi-Meerut highway.
Besides, it has manufacturing units at Noida, Jammu and Una (Himachal Pradesh). It expanded its Noida plant in the last financial year.
“We have invested around Rs 150 crore to set up a Noida (Uttar Pradesh) unit, which will be operational soon,” Marwah said adding that the target capacity for TV manufacturing of the company was to have 0.5 million units per year.
However, due to the COVID-19 pandemic and subsequent lockdown, there has been some delay.
The company has priced its range of semi-automatic washing machine, which would be available in three variants starting from Rs 6,999, which would be exclusively available on Flipkart.
“There is no affordable brand in the washing machine segment right now. Like TV, we want to be a premium affordable with aggressive pricing,” he said.
Sebastien Crombez, marketing manager of Thomson in Paris, said “We’ve been looking forward to announcing this further step in the Indian market after a short delay due to COVID-19. It shows the positive responsiveness the brand is having in India and encourages SPPL and Flipkart teams to keep up with the good work, which made it possible.”
The brand is pegging high on the pent-up demand for home appliances and the renewed ‘Make in India’ sentiment.
“We have witnessed a 300 per cent growth in the past one month, as restrictions are lifting and pockets of spending return, the business does seem to be getting back on track in next 2-3 months and it’s a promising sign,” he said.