Carrier Midea to double ad spend in push for Rs 1000 crore turnover in FY13

NEW DELHI: AC maker Carrier Midea will double its advertising and promotion budget this year. The company - a JV between Carrier and Chinese firm Midea - markets air conditioners under two brands, Carrier and Midea. While Carrier targets the premium AC consumer which forms 25% of the entire AC market, Midea brand intends to focus on the mid-segment.

It is targeting a turnover of Rs 1,000 crore in 2013. "We intend to become one of the top three players in the domestic AC market in the next few years," Krishan Sachdev, MD, Carrier Midea, said. The company intends to leverage Carrier's existing distribution capacity and sales network and Midea's product range to step up sales. Sachdev said the month of May saw 25% growth in business, and overall the year was better compared to the past two years. For residential ACs, the company will look at developing its business with real estate projects, which sell expensive houses with pre-fitted equipment.