Bajaj Electricals to boost presence in the premium segment

MD and CEO of Bajaj Electricals, Mr Anuj Poddar said to PTI that the company is planning to increase its play in the premium range in appliances and other segments, and expects the revenue contribution from upscale products to rise as it has lined up several new launches.

The company has recently launched a new brand under name “Nex” to target upscale urban consumers with its premium range of appliances.

Poddar told PTI, “We are focusing on two things — brand upliftment and product premiumisation — by launching new products.”

‘Similarly in the consumer lighting, we have seen a degrowth because of demand being weak but we made up for that in the professional lighting,’ Poddar said, ‘It’s more about us balancing our portfolio and doing the right things in a situation when actual demand is weak,’ he added.

On the current market scenario, he said that the demand is slowing down in the categories like fans where star rating has been implemented.

In the fourth quarter, the overall revenue from the fan segment remained stable, indicating no significant growth. However, there was a decline in the sub-economy category within the fan segment. Despite this, Bajaj Electricals experienced growth specifically in the premium category of fans.