Haier sees 30 to 35% festive growth, warns of post-Diwali price hikes

Haier Appliances India expects festive season growth of 30 to 35% this year, CEO N S Satish told The Hindu, citing strong Navratri sales and broad demand across rural and urban markets. The company has launched a five-door refrigerator and a three-drum washing machine, both firsts for India, to tap festive demand.

Satish warned that air conditioner prices may rise by over 10% after Diwali, with other appliance categories seeing 2 to 3% increases, as crude oil, commodity costs and currency movements squeeze margins, Fortune India reports. He said the industry has little room to absorb further cost increases and that a price hike is necessary post-Diwali.

Haier targets around Rs 14,000 crore revenue this fiscal (FY2026-27) from Rs 1,100 crore last year. The company plans to expand its exclusive store network from 65 to 400 locations by 2027 and is scouting for a third manufacturing plant expected to be ready by 2029.