Havells consumer durables brand Lloyd enters Middle East
Havells India said its consumer durables brand Lloyd had forayed into the Middle easy through a distribution partnership deal with Dubai-based TeknoDome.
Fast-moving electrical goods (FMEG) manufacturer Havells India's shares rose on Wednesday, putting an end to three back-to-back days of losses, a day after the company announced that its consumer durables brand Lloyd had forayed into the Middle easy through a partnership deal with Dubai-based distribution conglomerate TeknoDome. The stock of Noida-based Havells gained by as much as Rs 18.4, or 1.4 per cent, to Rs 1,299 apiece on BSE.
Lloyd's focus in the Middle East encompasses a range of technologically advanced and energy-efficient products, Havells India said in a statement.
The launch portfolio includes a premium range of ACs, front-load and semi-automatic washing machines, frost-free and side-by-side refrigerators, and LED TVs, meticulously designed to meet the diverse needs of consumers, seamlessly blending innovation with functionality, it said.
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"At Havells, our unwavering commitment persists in expanding our international presence, and we take pride in 'Making in India' for the world. We are thrilled to introduce Lloyd to the discerning consumers of the Middle East. Lloyd has been synonymous with innovation and trust in India, and we are confident that our range of products will resonate with the preferences and lifestyle of the Middle East market," said Anil Rai Gupta, CMD, Havells India.
Lloyd has swiftly become the country's fastest-growing AC brand.
Havells acquired Lloyd Consumer Durable Business in 2017 with an aim to gain a strong foothold in the consumer durable market.
Havells operates in more than 70 countries through a network of distributors and long-standing strategic channel partners.