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Mumbai:
Morphy
Richards, the leading small domestic appliances brand
in the UK, present in 90 per cent UK homes, today announced
the launch of its range of premium appliances in India.
The
brand will be marketed and serviced by Bajaj Electricals
(BEL). Through this strategic alliance, BEL aims to tap
the premium end of the small domestic appliances market
in the country estimated at around Rs 100 crore.
BEL
will sell the range of Morphy Richards products, which
include steam irons, coffee makers, toasters, sandwich
makers and food processors. The company will add more
products such as mixers, ovens and kettles, to this range,
over a period of time.
Says
BEL chairman and managing director Shekhar Bajaj: BEL
has always had a prominent presence in the value-for-money
segment of the small domestic appliances business. Through
this launch we now aim to consolidate our position by
targeting the premium end of the market as well. With
the prevailing changes in lifestyles and aspirations of
the Indian consumers, the home appliances market is set
to grow at around 12.5 per cent by 2005-06, and we want
to be there to cater to every segment of this market.
Says
Glen Dimplex Exports CEO Neil Naughton: The Morphy
Richards brand is targeted at the premium segment and
every model has a unique feature, is sleek to look at
and high on convenience value. We believe that India has
a huge potential for the home appliances business. I am
very optimistic that Morphy Richards will be a major brand
in India, in the near future. BEL is the ideal partner
for Morphy Richards in India given their significant strength
and knowledge of the Indian appliances market. Our relationship
with BEL is unique and is definitely for the long term.
We are looking at avenues for further expanding our association.
Adds
BEL president and COO R Ramakrishnan: The decision
to implement this multi-brand strategy was taken to consolidate
BELs presence in the small domestic appliances market.
And what better way than to bring to the table world-class
products from an internationally renowned brand. Also,
the strong distribution network that BEL has in place
will definitely help in effectively marketing the brand.
Add to that the brand equity of Morphy Richards, and we
surely have a winner in our basket of offerings. With
Morphy Richards, we are looking at creating a brand that
is truly world-class, but with an Indian heart.
With
the popularity of American style coffee bars rising, espresso
/ cappuccino coffee makers are becoming an essential,
whether at offices or at home. The Morphy Richards brand
offers an all-new product range of coffee makers for the
first time in India. Additionally in the European market
the brand also offers a wide range of innovative products
such as breadmakers and food steamers. BEL aims to offer
these innovative options to its consumers by launching
a variety of products in a phased manner, which do not
already have a presence in the Indian market.
Morphy
Richards is a 66-year-old brand of the Glen Dimplex group,
a leading worldwide manufacturer of electric heating and
small domestic appliances. It is the leading small domestic
appliances brand in the UK, with a strong presence in
Europe too.
The
Glen Dimplex group, founded in 1973 by Martin Naughton,
is a leading worldwide manufacturer of electric heaters,
household appliances, and cooling equipment. The products
of Glen Dimplex are marketed under known, independent
brands in both national and international markets. It
is a $1.3-billion group with brands like Morphy Richards,
Belling, Carmen, Goblin, Stoves, Symphony and Riedel under
its umbrella.
BEL
has a strong marketing network of 19 branches, 230 service
centres, over 3,000 authorised dealers and over 1,00,000
retail outlets spread across the length and the breadth
of the country.
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