Haier India Eyes USD 2 Billion Revenue with Strategic Expansion

Haier Appliances India plans to reach USD 2 billion in sales within the next 3-4 years by expanding product categories and distribution channels. With a significant investment of over Rs 1,000 crore planned for 2024-2028, Haier aims to boost manufacturing capacity and capitalize on growth opportunities in the Indian market.

Haier Appliances India aims to transform into a USD 2 billion enterprise in the next three to four years by expanding its product categories and channels, as disclosed by an official. The home appliance leader has allocated over Rs 1,000 crore for new AC production and injection molding units from 2024-2028.

The company's capacity is set to soar, with the new plant increasing output from 1.5 million units to 4 million annually. India remains a key player for Haier, presently the fourth largest market, holding potential to be among the top three globally.

After reporting a 36% revenue growth in 2024, Haier targets a revenue of Rs 11,500 crore this year. The firm's strategy includes enhancing its presence in mass and premium segments, focusing on market demands for air-conditioners and refrigerators.

(With inputs from agencies.)