Orient Electric to expand premium fans segment

New Delhi: Orient Electric, which has a leadership position in the premium fans segment, would continue to expand the category, said a top company official.

The company, which is part of the USD 2.4-billion CK Birla Group, on Monday introduced internet of things (IoT)-enabled inverter i-Series fans in the premium segment, which is claimed to save 50 per cent energy.

This is part of its plan to emerge as a frontrunner in the energy-efficient fans segment while also gaining more ground in the premium fans segment, said Orient Electric in a statement.

These IoT-enabled fans could be operated through Orient Smart mobile app or with voice commands via Alexa and Google Assistant.

“Based on the external data, our understanding is that we should be in around 20 per cent market share in the fans and in the premium segment, we are close to 45 per cent market share,” said Orient Electric MD & CEO Rakesh Khanna.

He further said, “In the premium segment, we are growing better than the industry every time. We are expanding this category also. This category hardly existed earlier. We are the one who is growing it.”

Premium fans are priced Rs 4,000 and above. Pricing for the Orient i-Series fans starts at Rs 2,850.

The Indian fan market is estimated to be around 6-6.5 crore units.

Besides, Orient Electric, which has formed a retail partnership with Italy-based small appliances maker De’Longhi Group, is also expanding premium brands De’Longhi, Kenwood and Braun to tier-II cities besides metro markets.