On September 10,the LG brand shoppe in Jawlakhel celebrated its 4th anniversary. The outlet sells a wide range of CG and LG home appliances. Ethan Kim, product director of home appliances at LG Electronics Singapore was in Kathmandu for a short visit to celebrate the anniversary at the outlet in Jawlakhel with the staffers of the outlet and the loyal customers of LG and CG. On the sidelines of the anniversary, New Business Age caught up with Kim to talk about the market of LG home appliances in Nepal. Excerpts:
How do you see the market of LG home appliances in Nepal?
We are very confident about the Nepali market. Last year was a phenomenal year for LG electronics in the Nepali market as the company adopted inverter-based technology in its home appliances. LG home appliances are energy efficient, and the response from the consumers have been overwhelming. I am confident that LG products will be a top player in the market despite the competition. The reason behind the success of LG in Nepal is that the company always focuses on quality.
How has been the partnership of LG with CG? How will the partnership grow further?
It is been more than three decades since LG and CG joined hands. I must say that CG has been a perfect partner for LG over the years. LG’s growth Nepal is perfectly guided by CG. I respect the business strategy of CG in Nepal. The hard work and perfect marketing activities of CG has helped the business of LG products in the Nepali market. The respect and belief of consumer towards LG in Nepal is overwhelming. So, LG will always support CG by providing better and quality products. The success of both the companies in Nepal is guided by each other.
How do you observe the growth and business prospects of the home appliances market?
In terms of the market size, Nepal is not bigger than other South Asian markets like India and Bangladesh. But, the sale is very good in this part of the world despite low population density. What is good about the Nepali market is that despite low population, the sales of premium home appliances are extremely good. The demand for high-end television is also quite good in Nepal.
How are LG home appliances doing in the global market and in the South Asian market?
LG is doing quite well in the global market. We are market leaders in many parts of the world. We grew 10 percent in the Asian market compared to the last year. When it comes to washing machines, we are the number one in the South Asian market. As we have introduced inverter-based technology in our home appliances, the sales have been increasing.
There is a tough competition in the market. How will the company work to grow the business of LG home appliances in Nepal?
There is a tough competition between the home appliances brands in the Nepali market. So, we are introducing high-end premium products in the market. Despite the competition, we are the number one brand in the refrigerator category. But, the competition is neck-and-neck in the one door refrigerator section. The only way to compete in the market is by gaining the trust of the consumers, which we have been doing since entering the market.
What makes LG home appliances different from other brands?
We are very aggressive in bringing quality products. We believe that it is very important to get the trust of the consumers to be a top player in the market. Other brands just focus on mass market and sales. The after-sales services of CG are very good.