The Electrical Industry is rapidly growing with modern technologies. More new user-friendly appliances and the wiring in a building or the miniature circuit breakers (MCB's) are far better and safer than the earlier ones. In today's world, the rapid growth of industries has increased the demand for electrical goods and services. These are getting fulfilled by mega private and public sector companies.
Havells India has emerged as the leading electrical goods manufacturer and supplier in India amid all this competition among different electrical giants to become the leader. It also provides high-quality products in its category.
About Havells India
The Business Model of Havells India
What's unique about Havells India Business Model
How does Havells India make money?
Conclusion
FAQs
About Havells India
Havells India Limited is a Noida-based electronic goods manufacturing company also called FMEG or Fast moving Electrical goods company. It came into existence in 1958. The founder of Havells was Qimat Rai Gupta. The name Havells comes from its first-ever owner Haveli Ram. At that time, Havells was restricted to the walls of Delhi as most manufacturing of the products took place in Delhi that time. Havells is also among one of the leading companies in India to manufacture and produce quality electrical goods, circuits, devices, and appliances, etc. Havells owns popular brands such as Lloyd, Standard, Crabtree, and REO.
Areas of Operation
Havells is a global brand with its footprints in nearly 50 countries on different continents. A few of the names include Dubai, UK, Sri Lanka, Nigeria, Kenya, Myanmar, Iraq, Bangladesh, Nepal, etc. In India, it has 13 state-of-the-art manufacturing facilities and supplies electrical goods to all parts of the country.
Key Products and Services
Havells manufactures a wide variety of electrical goods and equipment. From wires to large size motors, everything is available in Havells Electric empire.
- Wires and circuits: Fireproof copper wires, different types of industrial cables, miniature circuit breakers, Industrial circuit protection equipment, Switchboards are some of the electrical goods under this category.
- Appliances: Ceiling fans, exhaust fans, table fans, pedestal fans, and other electronics, such as air purifiers, motors, juicers, mixer grinders, and other small domestic electronics.
- Lighting: Havells manufacture LED bulbs, professional lights, and bulbs, night lamps, etc.
- Solar equipment: Havells India also manufactures solar inverters and solar power optimizers for sustainable energy solutions.
The Target Audience of Havells India
The key customers of Havells India are owners of small-scale industries, large-scale industries, and medium-scale industries. They require electricity for running their assembly lines or machinery. The people are willing to purchase electrical appliances for household purposes or as gifts during festivals and those builders or contractors. They are associated with mega construction projects and need bulk quantities of electrical cables and appliances. Also, the solar division of Havells deals with customers willing to install solar electronics and go green.
The Business Model of Havells India
Havells always tries to integrate and bring its customers together by giving them a wide variety of choices according to their interests. Havells opened nearly 500 Havells Galaxy brand showrooms across India where customers can get a wide variety of equipment and electrical goods at justified prices. Also, Havells had created different sets or groups of electrical goods according to the sections of the society and their financial sections. The middle-class range focuses more on attracting more Customers to this financial group. It provides the customers with a wide variety of options and choices. That's what a customer wants, 'options'.
What's unique about Havells India Business Model
- The strategic approach of Havells towards its customers was the key to their success in the Indian market, where they expanded their company globally. Also, they acquired some brands that gave them extra support in building a customer base. It even assisted them in expanding even more such as acquiring 'Crabtree,' a UK-based switchgear brand.
- Havells started trading for its stocks to go public as a shortage of funds was a problem for them at that time. Later on, they acquired the famous lighting brand Sylvania. But, it created some troubles for the company as they suddenly became global from local in terms of marketplace and management.
- By providing more and more options to customers in recent years after studying the needs of the middle-class section of India, Havells sales have boosted to the next level. It's still going on.
- The brand's advertisement and branding also proved fruitful in increasing customer interest. Commercial ads of the company have pushed it to some extent in terms of digital marketing.
- Its slogans were eye-catching, attractive, and customer-friendly approaches such as 'Bijli bachaye, Roshni failure, ' better light, better life, ' Wires that don't catch fire' etc.
PV Vyshnavi
How does Havells India make money?
Currently, Havells is a leading brand in Electrical goods and services in the country. It's also running its business globally. The population of India is the second-largest in the world. That's a huge profit point for Havells. Havells Managed to win the hearts of Indians as an electric goods company. Many Indians trust the brand for its quality.
The key sources of income for Havells come from sales of household appliances and industrial electrical goods. The Havells galaxy provides a wide variety of products for commercial businesses as well as for home requirements. From here, it generates a lot of profiles.
In 2021, Havells reported high profits in its quarterly reports of companies performance. Due to the growing demands in the electrical consumer industry, the brand is witnessing a surge in profits under the 'Make in India' program. In this, people are selecting more Indian goods over the Chinese ones.
Conclusion
From its starting till today, Havells always grew stronger despite all challenges. Today it produces a high percentage of electrical goods for the country's development and for fulfilling household needs. In upcoming times, if the company introduces more renewable sources of electricity such as more solar solutions, it might see a huge surge in profits as the era of sustainable development is at its peak.
From small factories in and around Delhi, manufacturing in giant factories and that too with high precision modern technology shows the emergence of Havells India in the Asian region. The company's business in Africa and other continents is also going great. It hopes to continue so that this Indian brand makes marvels overseas in the field of the electrical goods industry.
FAQs
Is Havells an Indian brand?
Havells India Limited is an Indian Consumer Electronic Products & Electrical Appliances company based in Noida.
Who is the CEO of Havells?
Anil Rai Gupta is the CEO of Havells.
Who started Havells company?
Qimat Rai Gupta was the Indian entrepreneur who founded Havells in 1958.
Is Lloyd Havells a brand?
Yes Lloyd is owned by Havells. Havells owns some of the most prestigious brands like:
- Havells
- Lloyd
- Crabtree
- Standard
- Promptec
What is the number of employees in Havells India?
There are around 5,781 employees in Havells India.
Author: Sushree Sangeeta Behera
Source : https://startuptalky.com/havells-business-model/
Date : 2021-08-29T08:08:00.000Z