Indian Fine Blanks Industries Ltd. or popularly known as IFB is an Indian brand that started its operations in 1974 in collaboration with Hienrich Schmid AG of Switzerland. IFB is popular among the consumers as a leading brand in home appliances. However, the company is also indulged in Fine Blanking, Agro and Automotive parts manufacturer. IFB stresses on innovation and technology in each of its sector. It strives to keep its quality as per the global standards and that has always played in its favour. It has its manufacturing units set up in Goa, Karnataka and West Bengal.
The company is one of the few Indian brands in the market to have a reputation for offering extremely good quality products. The reason is its collaborations with the German brands. It commenced its operations with Henrich Schmid and in the year 1989, the company entered into a collaboration with Bosch-Siemens Hausgerate GmbH, Germany for production of fully automatic washing machines and other domestic appliances. It also set up its European arm for fine blanking and tools manufacturing.
The clinical precision and superior engineering of the German brands help the company to achieve such high levels of perfection. Being a home appliance major, it currently offers products for Laundry, Kitchen, Living and Industrial solutions along with additives and accessories such as washing machines, washer dryer, laundry dryer, dishwasher, microwave oven, Air Conditioners, hobs, chimneys and other cooking appliances.
Although the company is good at manufacturing, it is unable to compete with the huge influx of Chinese brands in the Indian market. The new players in the market such as Haier and TCL have been gaining more ground in the past few years than IFB in their 4 decades of presence in the nation.
LG, the South Korean electronics titan needs no introduction to the technology world due to its immense popularity. They have been one of the leaders of the Indian market since long. Niladri Datta was heading LG Electronics’ marketing department for around 14 years. Now, he has been hired by IFB to be their chief of marketing and strategy.
The fact needs attention that Niladri has experience with LG in various capacities. Once, he was the head of LG’s washing machine segment and he earned the reputation of taking that business to the top in India. He has also served as the Chief Marketing officer for LG and these experiences of Mr. Datta tempted IFB to get him for the job.
IFB, apart from their washing machine manufacturing and other kitchen appliances, has recently moved into the air conditioner and built-in kitchen segments. They lack a good marketing team because, despite high-quality production, the common people/ consumers lack interest in the brand. Awareness about the brand is lacking. People need to know that IFB is an Indian brand that offers products, which are as good or even better than many of its global competitors. The company hopes that with a marketing maestro such as Niladri in their arsenal, the scenario of the company can change soon.
– Soumya De