Godrej

New Delhi, Sep 5 (UNI) Consumer appliances major Godrej&Boyce Mfg Co Ltd (GBMCL) today unveiled its 'eon' range frost free refrigerators, as part of its aggressive strategy of introducing innovative products in every quarter of the current fiscal at the R&D cost of five per cent of its turnover.

''We have earmarked five per cent of the turnover, estimated at Rs 1,000 crore, for the repositioning of the brand. GBMCL will roll out one new product every quarter across five categories --refrigerators, air conditioners, microwaves, washing machines and DVD players,'' GBMCL Chief Operating Officer George Menezes told reporters here.

The company is also looking at increasing its export turnover.

Efforts are on to increase foothold in the West Asia and derive five per cent of turnover from there.

The new era or 'eon' range of frost free refrigerators have been launched in two designs -- Giga Door and Apex Door-- a price range of Rs 16,000-Rs 20,000 and Rs 21,000-Rs 26,000 respectively.

The Giga Door model comes in a capacity of 243 litres and 263 litres while the larger capacity model Apex Door comes in a size of 305 litres and 342 litres.

The frost free refrigerators have features like 'cool shower technology' which allows cooling in uniquely designed shelves with air ducts to ensure uniform cooling, the company COO said.

Mr Menezes added that the refrigerators have some 'first in the world' features like integrated ice hangers comprising of petal shaped ice trays that slide under the freezer shelf providing extra storage space. ''GBMCL has also applied for patent for the technology.'' It has several other features like polybag suspenders for vegetables and chicken, in addition to 2.5 litre aqua space to store extra large bottles.

The models have been launched across the country and will be available at Godrej's countrywide network of more than 10,000 outlets and 42 Lifespace showrooms.

The company is targeting a turnover of Rs 1,000 crore in FY07 against Rs 750 crore recorded in FY06. The electronics and appliances market in the country is estimated to be Rs 25,000 crore of which appliances alone would comprise Rs 14,000 crore.

GBMCL stated that refrigerators continue to drive its sales turnover with 20 per cent market share.

The company, recently, forayed into DVDs, air-conditioners and microwaves market. It aims to increase market in the DVD segment from 3 per cent to 10 per cent while hitting 8 per cent mark in microwave ovens. Air conditioners have been a thrust area in the quarter, witnessing 512 per cent growth over last year.

Over the next six months, the launch will be duly supported by an aggressive media campaign using press, TV, radio, outdoors and retail display.

UNI PV PKS KN1753