Usha Intl hires McKinsey to draw future roadmap
: Home appliances and electrical equipment manufacturer Usha International on Tuesday said it has hired global consulting firm McKinsey to chart out its future growth path as it eyes a turnover of Rs 3,000 crore in the next five years.
By PTI |
NEW DELHI: Home appliances and electrical equipment manufacturer Usha International on Tuesday said it has hired global consulting firm McKinsey to chart out its future growth path as it eyes a turnover of Rs 3,000 crore in the next five years.
"In a week's time McKinsey will be starting their work to help us in charting the growth strategies," Usha International Chairman Siddharth Sriram told reporters here.
He said hiring of the global consultant was part of the plan to re-engineer its growth strategy for the next five to ten years.
Sriram said the company has set a target of touching a turnover of Rs 3,000 crore in the next five years from the current levels of Rs 600 crore.
He said the company would consider following both the organic and inorganic strategies for its growth.
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"What exactly we would do, however, will largely depend on the advice we get from McKinsey," he said, also declining to comment on investments that would be required in order to achieve the sales target.Already, the company has adopted a new branding strategy by consolidating all the products under the tag line 'It's a better life'.
The company today launched a new range of fans through its tie-up with Hunter Fan Co of the US. The fans are priced between Rs 1,095 and Rs 40,000.
Sriram said the company was looking to expand its fan market and enter west where it has almost no presence.
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"We are looking at entering the US, the world's biggest fan market where we have no presence now. Also, Europe is on our radar," he said, adding at present the company's main exports were to Middle East. Start a SIP with as low as ₹500 with ET Money App!
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