Blue Star, the air conditioning and commercial refrigeration major, has anticipated an overall growth of 30 per cent during the current financial year.
According to a report in PTI: “Blue Star as a brand continues to be a strong player in the corporate and commercial segment which comprises 25 per cent of the overall market size,” Joint Managing Director, Blue Star, B Thiagarajan said.
The company grew by 20 per cent in the last financial year which is faster than the industry growth and had a market share of 10 per cent, he said.
“We intend to continue with our aggressive thrust in the room air conditioner markets and aim to gain a market share of 12 per cent in the current year,” Thiagarajan said.
The 72-year-old company also has a sizable presence in the North East with sales share of six per cent in the region. It also plans to invest over Rs 30 crore on new product development as well as its research and design initiatives in the current financial year. Blue Star also plans product diversification in the water and air purifier sector.
Thiagarajan said around 50 per cent of sales of room ACs was from tier 3, 4 and 5 category towns and the company intends to focus in these areas. “E-commerce has also emerged as a driving force for sales and we expect 30 per cent sales from this sector by 2018,” he added.