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Novamax Appliances to close FY24 at 160-Cr, reveals ambitious expansion blueprint

19th March 2024: Novamax Appliances, a pioneering home appliance brand, aims to double its numbers by the next financial year and introduce a new product line to captivate the market. The brand had launched a range of home appliances, including an iron, mixer grinder, TV, electric kettle and speakers. With an initial investment of 5.25Cr, the brand has experienced remarkable success. Additionally, the brand’s dedication to quality control and customer satisfaction has led to an impressive 25% increase in online sales this year.

Harshit Aggarwal, Founder & CEO of Novamax, comments on the company’s future endeavours, stating, “We are thrilled to embark on this ambitious journey of doubling our numbers and venturing into new product categories. Our commitment to manufacturing excellence and customer-centric innovation has driven our success so far.”

With a targeted financial closure of 160 Crores for FY24, Novamax Appliance aims for financial milestones and is set to diversify its product offerings. Mr Aggarwal revealed, “In the next four months, we are excited to launch a state-of-the-art washing machine set-up. This marks a significant step in our journey to provide comprehensive home solutions to our customers.”

Furthermore, Mr Aggarwal emphasized the brand’s commitment to serving customers in tier 2 and tier 3 cities, saying, “Our success is deeply rooted in the trust and loyalty of our customers, especially those in smaller towns and cities. We are dedicated to providing them with top-notch products and excellent service.”

Novamax Appliance’s vision for the future involves business expansion and a steadfast commitment to innovation, quality, and customer satisfaction. The brand’s journey to doubling its growth and introducing new products signifies a landmark moment in its evolution as a home appliance industry market leader.

About Novamax Appliances

Founded in 2019, Novamax Appliances is one of India’s top air cooler manufacturing brands. With a dedicated team strength of approximately 250 professionals, Novamax aims to meet the demands of today’s consumers by ensuring world-class manufacturing and innovation.

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BRL Editorhttps://businessreviewlive.com
Business Review Live covers finance, technology, travel, lifestyle, and everything in between through exclusive interviews and analysis, market statistics, digital video, and an expanded array of content formats.