Company Name – Symphony Limited
Founder – Achal Bakeri
How It All Started
Symphony Limited was founded by Achal Bakeri who is an Indian entrepreneur, and currently, the chairman and managing director of Symphony Limited. He completed his diploma in architecture from CEPT University, Ahmedabad and his Master of Business Administration from the University of Southern California, in Los Angeles, USA.
Achal Bakeri’s entrepreneurial journey started in 1988, when he decided to launch air coolers instead of joining the family’s real estate business. In February 1988, he started Symphony Limited in Ahmedabad. He borrowed Rs.7, 00, 000 from his father back then, and went on to build a business that had few takers back then in air coolers.
The machines are less power-consuming and cheap replacement for air conditioners (AC). The existing air coolers were noisy, ugly, would rust very soon, and could even give electric shock! Achal decided to build something that was aesthetically appealing and not out of metal. They used plastic and the final product looked like a 1.5-tonne AC.
The company was about to go bankrupt in 2002, but after purchasing a majority stage in a Mexican company, Achal Bakeri claims it became the world’s largest air-cooler manufacturing company. In February 2017, multiple features like touch screen, voice assistance, and mosquito repellent were launched by symphony.
Symphony was launched in 1988 with its headquarters in Ahmedabad, Gujarat, India. The manufacturing facilities were in India (for residential coolers) and Mexico (for industrial coolers).
Symphony is a global company committed to develop responsible and sustainable products. This means leading the air-cooling industry’s efforts to develop revolution in green technologies to combat climate change. A publicly traded company in India with a manufacturing base in North America offering products in over 60 countries, Symphony continuously delivers value to its shareholders in a predictable and profitable way.
The groundbreaker in evaporation air cooling with a leadership that is unparalleled, and innovation that is unmatched. The air cooling expertise of Symphony is better than everyone. With a global Presence in almost 60 Countries across America, Africa, Asia, Europe and Australia and a Giant network with 30,000+ retailers and 1000+ distributors, Symphony has a horse vision towards only one business and that is Air Cooling.
Their Mission includes design, quality and above all service which is always the foremost. Innovation and improvement which will always the endeavor and customer comfort will always be their inspiration.
Symphony limited Marketing strategy and Interesting Facts behind its Success.
At Symphony, design-driven innovation and green engineering has a survivable competitive advantage. They provide market-leading products with design innovation and engineering, improved energy conservation, peculiar styling and customer-centric design.
Symphony has 50 per cent share of the domestic organized air cooler market, followed by Kenstar, Bajaj Electricals, and Usha. Its products command a 10-12 per cent premium over its competitors’ products. About 15 per cent of Symphony’s revenues come from its exports to 60 countries.
Over the years, they have introduced a wide range. Symphony has created large AC-like air coolers, launched premium air coolers, put air coolers on castors and moved to central air-cooling through the acquisition in Mexico. They have implemented just about everything, and have succeeded.
Symphony lunched its first air coolers in the summer of 1988 and they had managed to sell their entire stock of 1,000 air-coolers in Ahmedabad. Smart pricing and attractive designs had helped at the time. While a conventional air-conditioner cost about Rs 30,000 and a locally assembled air-cooler, about Rs. 2,500, Symphony priced its products sleekly designed like air-conditioners at Rs. 4,300.
The single-minded focus on quality and looks has paid off even in its later years. The domestic air cooler segment is largely fragmented with about 70-80 per cent of sales accounted for by unorganized players. Symphony is the leading player in the space followed by Kenstar (Videocon Industries Limited).
Vision on exports, in 2008 Symphony acquired Mexico based IMPCO, a pioneer in the field IMPCO opened up the American market and brought on board a new range of products. Today Symphony is the world’s largest manufacturer of residential, industrial and commercial air coolers present in over 60 countries across the globe.
Symphony’s manufacturing excellence stems from the passion to create the best air coolers in the global marketplace across design, quality, energy efficiency and performance. They outsourced manufacturing which was another key decision. The component manufacturing was anyway outsourced. So, they decided to outsource the assembly too. They have built an asset-light manufacturing ecosystem with OEMs for consistently high production quality and volumes. Robust, long-standing relationships with their partner suppliers which help maintain their leadership in quality and reliability.
Symphony fosters a culture of innovation. All their campaigns are very attractive and catchy. They promote through a very smart and logical TVC.
Their industry-leading innovations are integrated in the latest range of Symphony air coolers. The world’s first wall mounted air cooler, pure technology mosquito repellent and humidity control. The product range is defined to only one segment Air Coolers, which has a wide range of models. Air coolers are manufactured with a deep Research on customer’s requirement. Air coolers are designed to meet the requirements of every cooling need — quiet home, busy office or bustling factory.
Air Cooler Range include
- Residential air coolers
- Mobile Commercial Air Coolers
- Central Air Cooling Solutions
- Packaged Air Coolers.
Air coolers were designed for residential, commercial and industrial applications. Plastic and Metal air cooler models are designed for diverse residential, commercial and industrial applications, and comprehensive air cooling solutions for industrial applications.
‘One Man Army’ is the best quote given to Symphony Limited as it is dedicated to Air Coolers which is leading across the globe. It has faced numerous and diversified competitors but stands with glory. Continued innovation, strengthening market leadership, expanding distribution makes Symphony (SYML), the largest Air Cooler Company in India.
A leader of global air cooling solutions that effectively address the cooling needs of residential and industrial customers in 60 countries, Symphony Limited is committed to the manufacture of eco-friendly products and is passionate towards creating innovative designs.v