Thursday, April 19, 2012: 09:00:08 AM

Retail News

Symphony making a global impact

Acquisition of North America based Impco was a major step towards gaining dominance in the air cooler market for Symphony

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Leading air cooler brand Symphony has made its mark in the global market with the acquisition of North America based Impco. The move has made Symphony one of the leading air cooler brands in the world as the collaboration will go a long way in enhancing the brand’s reach among international retailers such as Walmart, Sears, Home Depot, Lowes, Famsa and Costco.

 
Symphony’s CMD Achal Bakeri said, “The global market is huge and we have still just scratched the surface. With global warming leading to higher temperatures, the demand for environment-friendly air coolers is growing fast in developed countries. Even a generally ‘cold’ country like Russia has seen a spurt in demand for air coolers and the potential market there is so significant that we have appointed a country manager for Russia. We were the first air cooler company in Mexico to undertake an extensive brand building exercise through a TV and print ad campaign in Mexico. We will look at further acquisitions globally in the future.”
 
Air cooler market
 
According to brand expert Enakshi Kundu, “With more money in the hands of the middle class consumer, the demand for air-coolers is definitely on the rise. The competition in the market is quite stiff.”
 
Through a widening of its global footprint, Symphony is also reducing its dependence on seasonality. When it is winter in India, it is summer in a number of other countries, marked by a potentially robust demand for air cooling solutions. For instance, in the US, summer extends from May to August; in the UK, from April to October; in the Middle East, from April to October; in Southern Hemisphere i.e. in South Africa, from October to February; in Australia, from December to February.
 
By focusing on sales across the world, Symphony has successfully transformed what would have been a business disadvantage into a potential opportunity.
 
Tias Chakraborty

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