French electronics brand Thomson, which operates in India through its brand licensee Super Plastronics Pvt Ltd (SPPL), on Thursday said it is set to foray into the residential air condition segment this month. The company, which is expanding its presence into the home appliance category, will introduce a range of its split and inverter room air conditioners this month, Thomson said in a statement.

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It will launch ACs on the e-commerce platform of its strategic partner Flipkart and aims to grab 10 percent of the online AC market in the next three years. SPPL CEO Avneet Singh Marwah said, "As promised, we are adding another new category this year. We are very eager about this launch and introducing Thomson's air conditioners to the Indian market with our strategic partner Flipkart".

"In five years, Thomson will be investing Rs 500 crore in home appliances alone and by the end of three years, we plan to achieve 10 percent of the online AC market." The company is aggressively looking at India's home appliance market, which is one of the fastest-growing.

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According to Marwah, there is enough headroom to grow into the Indian market in the residential AC segment. "Globally, an average penetration of air conditioner segment is 30 percent as compared to India's at a meagre 4 percent. This gives us a huge pitch of opportunity to play at," he said.

Moreover, the growing economy and changing lifestyles, among other factors, have increased the need for products such as AC that offers comfort and convenience. "The country is also witnessing soaring temperatures and heat records, during the summer season over the last decade, all this has presented a huge opportunity for global brands to enter this segment," Marwah said.

Thomson price range for ACs starts at Rs 26,490.

First Published:Mar 17, 2022 5:55 PM IST