The festival season continues to do well for Blue Star. During Onam, the start of festive period, company grew over 50 percent and during Dussera, it grew by nearly 30 percent. B Thiagarajan, Joint MD of Blue Star expects over 30 percent sales during the upcoming Diwali season while market will grow by 20 percent. Market is doing well both in retail and online space, he told CNBC-TV18.
However, Thiagarajan adds that online sales have been subdued this year in comparison to last year as the e-retailers are focusing on other products like LCD TVs and small appliances. He is optimistic that 30 percent of demand will be fulfilled by online sales by 2020. On the Goods & Services Tax (GST), Thiagarajan says that AC companies will face some difficulties during the transition period and 26 percent is a neutral rate. Also, the new cess, suggested by the Center, on luxury goods is not a welcome step according to him. Upcoming Union Budget and GST will be closely watched by the company. Watch video for more..
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