Excelsior Correspondent
JAMMU, Feb 17: Luminous Power Technologies, a powerful and trustworthy brand with a wide range of innovative products in the power backup, home electrical and residential solar space, today introduced its biggest series of energy efficient star rated premium designer fans in India.
This industry first energy efficient designer fans range will help save 40 per cent of energy compared to standard ceiling fans.
Commenting on the launch of the new range, Jitendra Agrawal, Senior VP, Luminous Power Technologies, said “In the light of Government’s push for energy conservation, we are happy to launch our range of designer Energy Efficient fans which are smart, modern, energy-efficient and environment friendly. The new range is not only aesthetically appealing but also economical. Given India is a big market for fans and a huge population is driving the consumption of fans, the energy efficient fans will help in saving a lot of energy along with electricity cost. The newly launched designer fans India can save upto 100 MWh electricity every day and more than 100 crores cumulative in electricity cost over the lifetime”
He further added, “Luminous aims to achieve Rs 500 crore revenue in the overall fans category by 2023. And we believe that over the next 2 years, 65 per cent of the overall category volume will shift to energy rated fans as they are more budget friendly with an individual being able to save upto Rs 1250 annually on a 3 star rated fan as compared to Rs 1500 for a 5 star rated fan. Jammu and Kashmir is an integral market for us and in the coming year we expect 150 per cent increase in demand for designer fans which are also Energy Efficient from this region alone. With an aim to gain 5 per cent market share in the fans category in the next 2 years, we are further strengthening our distribution network in India”.
Luminous has grown 5 times in last 3 years in the premium fans category. The growth has been driven by designer fans, especially Signature Collection launched in early 2018.The energy saving designer fans category is available in the price range of Rs 3,500 to Rs 5,500.
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