Whirlpool will devote nearly Rs.100 crore in the upcoming 2-3 years on product growth and diversification into fresh sections like water filter and modular kitchen goods.
Reportedly, the company plans to invest about Rs.30-35 crore yearly on product growth. Thus, in the subsequent three years, it will devote nearly Rs.100 crore on making new goods.
Funds would be allocated in improving technology, adding features to present models and in modifying the production line.
The company would strengthen its core business of refrigerators and washing machine simultaneously. They are also venturing into new businesses, comprising water purifier and modular kitchen goods.
Also, increasing the product collection of its non-core sections like water purifier, Whirlpool will also aim at in-built appliances.
The company has nearly 22% share in the entire 4.6 million units yearly refrigerators market in India and nearly 15% share in 2 million units washing machine market.