Daewoo targets Rs 500 cr revenue by FY27, plans to launch over 100 products
Korean brand Daewoo on Tuesday said it has set the target of achieving a revenue of Rs 500 crore by FY27 from India business and plans to launch over 100 products across multiple categories.
Besides, the company is also looking to launch its own branded stores across the country, and aims to open 130 outlets by 2025-2026, it said.
Daewoo, which re-entered the Indian market in October last year, has a diverse portfolio ranging from power and energy products such as batteries, solar panels, and inverters to consumer electronics items, including LED TVs and kitchen appliances.
According to the company, the consumer durables market in India presents a substantial growth opportunity, as penetration levels remain relatively low with only 18 per cent of households owning air-conditioners and 33 per cent refrigerators while the washing machine ownership stands at 80 per cent.
Daewoo aims to fill this gap with innovative, high-quality products that align with the changing lifestyle needs of