The company, is expanding its stores to 200 from its previous retail base of 150 stores by the end of FY19.
Air-conditioner maker Blue Star is planning to invest about Rs 100 crore in FY19 on new product development, R&D initiatives and advertising and brand communication, as part of its business growth plans in India.
A sum of Rs 55 crore has been planned for advertisement purpose separately by the company along with a lined up investment of Rs 40 crore for product development and R&D. The advertisement will include TV commercials supported by ads in mainline dailies, cinema and hoardings.
The company, is expanding its stores to 200 from its previous retail base of 150 stores by the end of FY19. Besides, Blue Star has also set a target to expand its distribution.
The company said, "The company intends to increase its investment to Rs 40 crore in FY19 on new product development as well as R&D,” adding that in terms of advertising and brand communication, it has plans to invest about Rs 55 crore in the forthcoming summer season.
Blue Star has introduced 40 new models of energy-efficient 3-star and 5-star inverter split air conditioners into the market.
Currently, it enjoys a market share of 11.5 per cent; the company will increase its expert service associates to 750 in FY19 as against 500 associates presently to provide after-sales air service.
Blue Star Ltd Joint Managing Director B Thiagarajan said, "We are optimistic about the future prospects and once again expect to out-perform the market and achieve a market share of 12.5% in FY19."
He further said the room air conditioners market in India grew by 10% in the period between January-December 2017, whereas Blue Star registered a growth of around 15%.