*Blue Star aims at 14 % market share by FY23 – The Hindu BusinessLine

lipped from: https://www.thehindubusinessline.com/todays-paper/tp-news/blue-star-aims-at-14-market-share-by-fy23/article65294488.ece

B Thiagarajan, MD, Blue Star BIJOY GHOSH

B Thiagarajan, MD, Blue Star BIJOY GHOSH | Photo Credit: Bijoy Ghosh

MD says despite price hikes, company will make affordable products for mass market

In anticipation of a significant uptick in demand during the summer season, air conditioner manufacturer Blue Star launched a range of 50 new models of ACs.

“As an industry we look forward to the market growing at 20 per cent in comparison to 2019,” said B Thiagarajan, Managing Director for Blue Star .

According to him, Blue Star, which enjoys 13.25 per cent market share as of the third quarter of the 2022 fiscal, will grow to a market share of 14 per cent by the end of FY23. The market gains will come despite the price hike that the company has taken in the aftermath of the Ukraine crisis.

Price hikes

In March, Blue Star hiked prices by around 2-3 per cent, and further hikes could be considered in July.

A total of 15 per cent hike in prices has been undertaken between January 2021 and 2022, however, Thiagarajan says that they have also re-engineered their ACs in order to ensure their products remain affordable for the mass market. About 60 per cent of Blue Star’s consumer base resides in tier 2-3 markets.

Blue Star also has ambitions to strengthen presence in North India, Central India and East India markets and add 1,000 stores to bolster penetration.

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