ompanies think of diversifying into new products and categories typically when the growth in the core business slows down or when they wish to leverage existing resources and brand equity to hedge against the future. The Rs 97-crore Polar Industries insists its latest initiative is prompted by the latter.

The Kolkata-headquartered company is set to enter the Rs 850-crore domestic appliances market with its new brand, Polar Bear. The Polar Bear range includes mixer grinders, juicer-mixer-grinders, room heaters, electric irons and geysers. Says Raajiv Misra, chief executive officer, Polar Industries, "We are targeting the mass market - that is, the middle and the top-middle segment of the market." ... more