Retail giant Wal-Mart demand drives sales at evaporative cooler maker Symphony
Symphony, India’s largest evaporative air cooler company, has announced it aims to double exports within the next two years. The company’s exports currently are at around 125,000 units per year, selling to dealers across 60 countries as well as to global retaillers like Wal-Mart, Sears and Home Depot
Symphony’s ‘DiET’ range is claimed to be the largest selling air cooler brand outside India. Wal-Mart expects to sell 90,000 units, including 30,000 in Mexico stores alone. The Diet coolers feature advanced electronics, a stylish digital control panel, and remote control and a compact footprint, coupled with ‘incredible’ energy efficiency, the firm said.
Achal Bakeri, chairman and managing director of Symphony, said, “Due to global warming the demand for air coolers is going up considerably and new demand is emerging from even relatively colder countries like Russia and Ukraine. From 60 countries, we would like to expand to 100 countries in the next few years. Our presence in global markets also helps us to de-risk the seasonal susceptibility in India.”
He further added: “In western countries, houses are not designed for summer. Also, people in the West have lower tolerance to hot temperatures compared to Indians. Hence, there is an enormous scope to market coolers in western countries, in eastern Europe, the Middle East, Nigeria, Egypt and South Africa.”
“In some countries our products have been just launched and are at the beginning stage, while in some other countries these products are used extensively,” added Mr. Bakeri.