Electrical switches and accessories major Anchor Electricals on Thursday announced its tie-up with British General of UK to launch 'Woods', a premium range of electrical accessories in India.
Woods is entering the Indian market through a 76:24 joint venture between Anchor and British General with an initial investment of Rs 15 crore, Anchor Electronics & Electricals president Sashi Nair said at a press conference.
"The scope of the JV includes design, manufacture and sale of Woods range of products in India and SAARC countries to begin with," he said.
Anchor also unveiled a first-of-its-kind 'Woods light control and home automated system'.
The Mumbai-based Anchor, which has an annual turnover of Rs 600 crore, is targeting hotels, offices and corporates for the Woods range of electrical accessories, he said.
Nair said the company will enter the consumer goods segment in a big way by launching its soaps and shampoos soon. Its 'Anchor toothpaste' has a seven per cent market share, he said.
The Woods range of switches include British switches and wiring accessories under the brands 'Matrix', 'Viva', 'Scota', 'Elton' and 'Rivoli'.
The home automation products, priced Rs 50,000 upwards, comprise a complete range of sophisticated home automation products including light control systems or mood lighting, electronic sensors and anti-intrusion alarms.