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| Sunday, 4 May 2003 |
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| News Business Features Editorial
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50% market share for fridges held by Singer Singer (Sri Lanka), the distributor of Singer, Whirlpool and Sisil brands of refrigerators, holds a 50 per cent market share for refrigerators in the island including Jaffna, Singer Chairman, Hemaka Amarasuriya said. Around the world, one Whirlpool home appliance is sold every two seconds, he told a media conference held to mark a milestone in Singer performance in Sri Lanka. Asia, with the growth of its economies, would emerge the largest market for home appliances in the next few years, Whirlpool of India's Managing Director, Raj Jain told the media in Colombo. Whirlpool home appliances are sold in 140 countries. Whirlpool of India, the manufacturer of the appliances under licence from the Whirlpool Company in USA, supplies the products to Sri Lanka. Whirlpool of India Director Exports, Rajeev Kapur said the brand holds the largest market share for home appliances in India. In the late 1980s, Whirlpool Corporation, USA had identified India as a growth market for home appliances and teamed up with the TVS Group of India to produce automatic washes in Pondicherry, India. In 1995, Whirlpool Corporation acquired Kelvinator of India Ltd and entered India's refrigerator market. In 1995, a majority stake in the TVS joint venture was acquired, and the two entities were merged to form Whirlpool of India Ltd. Now Whirlpool has three manufacturing units in India - in Pune (frost-free refrigerators), Faridabad (direct cools facility) and Pondicherry (washer facility). Whirlpool of India exports home appliances to Sri Lanka, Bangladesh and Nepal. Sri Lanka is the most important of these South Asian markets, Jain said. There is a need for home appliances in the island, while India is able to exploit the situation because of its proximity to Sri Lanka. When the South Asia Free Trade Area comes into full force in 2007, India would have more opportunities of exporting to its neighbour, he said. Whirlpool of India teamed up with Singer in 1997. (EL) |
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