Haier Appliances India Private Limited

Haier Appliances India: Customer-inspired Innovations Driving The Future Of Consumer Durable Sector

Company of the Year 2024

This piece of writing is a big shoutout to a global game-changer in home innovation. Yes, it is none other than Haier Appliances India, a subsidiary of Haier Singapore Investment Holding Pte. Ltd. We found the brand’s journey of transitioning from a local brand to a global powerhouse worth many praises. Their resounding success in a short span displays the power of bold decision-making and a shared vision to shatter the barriers and carve one’s own path.

Haier India has revamped the way we interact with our home appliances. Known for its touch of elegance and dash of innovation, the brand has offered us everyday conveniences that seemed impossible 3-4 decades back. The brand is not just making appliances but crafting indelible experiences to suit the needs of the modern-day life, something which we will get to know about in this article.

With the company’s growing influence and expanding reputation, the man at the helm, NS Satish guides the way ahead to a radiant future. As the President of Haier India, he assumes the role of bringing India’s appliances market to the global map to compete with the international market leaders.

Having 28 years of successful business experience, Satish is an industry expert who is seen as a visionary with a keen understanding of the consumer durables sector in India. NS Satish is a natural leader at heart and what sets him apart from his contemporaries, is his deep understanding of evolving customer needs. His extensive experience in delivering relevant solutions has helped him scale Haier Appliances India to greater heights. His extensive experience in delivering relevant solutions has helped him scale Haier Appliances India to reach greater heights.

In a freewheeling conversation with him, we unpacked various aspects of the company’s overall portfolio and leadership initiatives that solidified its position as a leader in the electronics and home appliances market.

A GLANCE AT THE COMPANY PROFILE

Haier Appliances India Private Limited (Haier India) began its remarkable corporate voyage in 2004. Haier India has emerged as a top brand in the Indian home appliances and consumer electronics market. Creating more possibilities for the consumers and the business through innovative solutions that revolutionize the modern lifestyle remains at the core of their vision.

Headquartered in Greater Noida, Uttar Pradesh, Haier India has spread its presence pan-India ..They continue their legacy of being recognised as the World’s Number 1 Brand in major appliances for 15 years. Haier India is also focusing on local manufacturing and nation-building goals under their ‘Made in India, Made for India’ philosophy.

The brand has a highly tailored set of products that are designed to address the growing challenges of Indian consumers. With innovative technology, premium product design and an extensive distribution channel Haier is ensuring modern Indian families can enjoy the industry-best appliances.

The product portfolio of the company has majorly expanded from 5 categories to 11 categories in the last two decades. So far, their signature products include refrigerators, air conditioners, LED televisions, deep freezers, microwaves, kitchen appliances, commercial refrigeration solutions, robot vacuum cleaners, and commercial air conditioners.

IN SYNC WITH TRENDS AND MARKET PULSE

When asked to share the brand’s strategy to stay ahead of the curve in this competitive market, NS Satish shared, “Understanding the evolving trends and meeting customer needs is crucial at Haier India. Over the past two decades, we’ve pioneered several industry-first technologies, from India’s first 3-door SBS refrigerator to self-cleaning features in air conditioners and washing machines. Haier India has strategically utilized technology to bolster its presence through a digital-first ‘Sport-O-Tainment’ strategy, incorporating AI and influencer marketing.”

Moreover, a big contribution to this direction comes from their brand management process which is unique and visionary. From IPL to the World Cup, we all saw Haier’s name on the screen which allowed the brand to seep into the market and reach premium viewers as well. The senior leadership knows how to create brand trust and reliability with the consumers through disruptive brand visibility techniques, which is truly applaudable.

CUSTOMER-INSPIRED INNOVATIONS

NS Satish shared that gaining clients’ sustained trust has been a two-pronged strategy at Haier India. The first step involved properly targeting and engaging their customers, following which the team prioritized customer-inspired innovation. Haier India focused on its ‘Made in India, Made for India’ ethos to manufacture products that complement their consumers’ lifestyles and make them smarter, more convenient, and more comfortable by giving priority to market research and listening to feedback.

Secondly, the team stays in touch with their existing clients by providing proactive support and ongoing feedback loops to guarantee exceptional quality. Customer loyalty is strengthened by strict quality control and outstanding service at every point of contact which ensures that the brand constantly meets their expectations and even exceeds those.

NS Satish added, “We invest heavily in understanding our client’s needs through comprehensive market research and customer feedback, allowing us to create products that are not only reliable but also aligned with the evolving demands of the Indian consumer. Our dedication to quality, innovation, and customer satisfaction is what earns and sustains the trust of our customers.”

THE DIFFERENTIATING FACTOR

Above all, Haier’s marketing approach is genuinely unique and commendable. Their marketing techniques could be a blueprint for business success and offer numerous insights for other industry players and budding enterprises. They employ sports and digital platforms to connect with younger, more affluent customers, all the while paying close attention to their target demographic. Haier India knows how to reach out its potential customers.

It has made connections at a mass-level and with a niche section of audiences by associating its brand with up-and-coming sporting events associated with tennis and cricket, which ultimately increases brand awareness and consumer loyalty.

Haier was able to effectively reach affluent , tech-savvy consumers with its recent agreements, including the prestigious Roland Garros while garnering an en-masse appeal through marketing partnerships around cricket events in India like, IPL and ICC World Cup. Through these powerful channels, they have expanded the appeal of their cutting-edge products to a wide range of consumer groups.

The tagline, “More Creation, More Possibilities,” at Haier India, reflects their commitment to customer-inspired innovation as the foundation of their success. This mindset pushes them to be at the forefront to make constant adjustments to satisfy the customer’s changing needs. They provide a wide selection of home appliances, such as air conditioners, microwaves, washing machines, refrigerators, air conditioning units, water heaters, and smart TVs. They are dedicated to innovation not just in their consumer goods but also in their business products, which include commercial freezers.

Apart from the above strategies, the comprehensive approach helps them get an edge in the market. The senior leaders place a high value on trade alliances’ strength and staff well-being. They make sure that their partners receive the same attention and assistance as their consumers since they recognize how important it is to have solid trade ties.

R&D FOCUSED APPROACH

Haier India’s overall procedures are R&D centric where customer pain points are prioritized every time. “For instance, I would like to share our consumer studies on side-by-side refrigerators. The people using it said the freezer section is too big and they don’t use it. By listening to feedback, we designed the 3-door Side-by-Side refrigerator tailored for Indian needs.

Similarly, we introduced self-cleaning technology in our air conditioners, and added a ‘refresh’ mode in washing machines to extend the life of delicate garments,” the leader conveyed their commitment to consumer issues and improvement of products as per the Indian needs. It could be inferred that customer feedback is the secret sauce to take any brand to next level.

CULTURAL PRINCIPLES

Satish enunciated the work culture that exists in the company, “Haier India cultivates a culture of innovation rooted in the Rendanheyi model, empowering our employees to think beyond conventional boundaries and explore trends both within and outside our industry.

We believe that true innovation thrives in an environment that encourages experimentation and continuous learning. We heartily invest in our people and their skill development. We believe in creating a workplace that inspires creativity and forward thinking. Through workshops, team-building activities, and creative challenges, we motivate our employees to push their limits and think differently, knowing that their ingenuity drives our success.”

THE LAURELS

Haier India has transitioned from a category leader to a comprehensive ecosystem brand in the last two decades. The product category expansion itself is one of their proudest achievements. Moreover, a significant milestone has been Haier’s focus on local manufacturing, with 90% of its products sold in India produced domestically at the Greater Noida and Pune plants. This truly underscores the brand’s commitment to India’s economic growth.

NS Satish proceeded ahead to explain that in the past five years, the industry saw an average growth of 8.5%. Haier outpaced it with an impressive 22% growth. In 2024, Haier’s growth accelerated even further, achieving a 31% increase compared to the industry’s 12%, closing the year with a revenue of ₹8,500 crore, a remarkable 2.5X growth rate.

Concerning the awards and accolades, Haier India has earned several that have been listed below:

• Marketing Excellence in the Consumer Durable by ‘The Golden Globe Tigers Awards’
• Marketing Campaign of the year (2023): ‘Hone Do Haier’
• The Most Trusted Brand of India 2023 by Marksmen Media
• Excellence in Innovation by The Economic Times
• Prestigious Brand of India 2023 by Brand Advertising Research & Consulting Pvt. Ltd. (BARC)
• Most innovative company across the industry by CMO Asia
• Best innovation in marketing category by BARC

THE FUTURE OUTLOOK

Haier India’s business growth in the future has been carved in the roadmap prepared by Satish and other decision-makers. He revealed, “Our goal is to become the second-largest brand in India within the next five years. In 2023, we achieved a turnover of around Rs 7,000 crores, reflecting a 25% CAGR growth.

This year, we aim to reach Rs 8,500 crores, targeting Rs 11,500 crores in the following fiscal year, with an anticipated 35% CAGR growth. We plan to invest Rs 800 crore in capacity expansion, reinforcing our commitment to the Make in India initiative. With projections of 35%-40% growth in air conditioners and 30% in refrigerators, we are wellpositioned to strengthen our market leadership.”

THE PARTING WORDS BY THE LUMINARY

“Success in business is not just about having a great idea, but about executing it with passion, persistence, and adaptability. In today’s rapidly changing world, innovation is key, but so is the ability to listen to your customers and respond to their needs with agility.

Build a strong, motivated team that shares your vision, and remember that challenges are not roadblocks but stepping stones to growth. Stay committed to your values, keep learning, and never be afraid to take calculated risks. Your journey as an entrepreneur is not just about reaching the destination but about continuously evolving and improving along the way.”

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