Speaking about the current scenario, Covid-19 pandemic has placed the consumer electronics and home appliances industry under immense financial strain. What has unfolded around the world in the past couple of months is unprecedented. Covid-19 is having a major impact on all aspects of society. All through January and February, manufacturers and their suppliers have been scrambling to keep the assembly lines running full throttle but March has seen the industry take concerted action, in sync with government advisories, to keep its personnel safe followed by the lockdown.
With the World Health Organization declaring the COVID-19 outbreak a pandemic, an unprecedented global disruption is at hand. The component manufacturing plants are being shuttered around the world, consumer footfalls in showrooms have fallen sharply, electronics sales are dropping dramatically and almost every consumer durable industry being hit by work force shortage.
These unpropitious times have brought many challenges to the industry but have also opened the gates for new opportunities to procure and produce indigenously.
Since inception, Wybor has been the frontrunner in indigenous manufacturing and enhancing the backward integration right from sourcing to manufacturing. We are already in the process to reduce our dependency on foreign imports and are looking to produce key components used in our products in India.
The present market size of all washing machines in India is close to `10,000 crore comprising sales of more than 6 million units approximately. Fully automatic washing machines segment is largely contributing to the growth of washing machines industry in India. The penetration of washing machines, getting wider with the electrification of rural India, has opened new avenues for growth for the segment. In order to seize the business opportunity in a rapidly growing washing machines industry, Wybor has set up a second assembly line in state-of-the-art fully integrated manufacturing facility at Greater Noida, UP. Now with increased production capacity, working round the clock, the Wybor plant can churn out 1.5 million washing machines in a year. Globally, the growth prospects for washing machines is very promising as there is an acute shortage of domestic help and people are forced to do their household work themselves and washing clothes remains the top priority. This will drive the sales of home appliances, primarily washing machines across all consumer segments. We are witnessing a great surge and demand for large sized (10–14 kg) semi-automatic washing machines and this trend is expected to continue in the future as well.
The Wybor brand has grown rapidly and has extended its network in 23 states, with a strength of more than 350 trade partners in major cities of India, and is now exploring opportunities in rural India. Wybor products are now available in Tier-III and Tier-IV markets as well.
Wybor is also an ODM/OEM for various brands, supplying washing machines and air coolers under their respective brand names. Encouraged by market research and demand analysis Wybor is planning to increase its portfolio by introducing 10 kg and jumbo 12-kg semi-automatic washing machine models. The current plan is to conquer the segment by introducing seven variants in these categories with unique features and eco-friendly technology.
Wybor is all set to enter fully automatic washing machines market with top-loading and front-loading models after developing and manufacturing semi-automatic washing machines indigenously. Manufacturing of fully automatic washing machines will also take place in our state-of-the-art fully integrated plant at Greater Noida.
The washing machines industry is poised to take an unparalleled growth trajectory leaving all other product category segments far behind.