The CK Birla Group company Orient Fans today announced its entry into the home appliances market with a range of products, including mixer grinders, room- cooler among others under the brand name Orient Actus.
"We are expanding our portfolio by making a foray into the home appliances segment under the Orient Actus brand name," Orient Actus Vice-president for appliances SB Khedkar said in a statement here.
The product will be initially available from this month in Mumbai, Ahmedabad and Hyderabad.
"We are looking to capture 10% market share within three years of launch of Orient Actus. We will invest around Rs 50 crore in product development, research and development and marketing over the next two years," he added.
The home appliances market is estimated to be Rs 5,200 crore and is growing 12%, according to the company.
Orient Actus will cater to the premium segment with its kitchen appliances, room and water heating solutions, besides mixer grinders, hand blenders, toasters, kettles, irons, geysers, and air coolers.
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