Signify Innovations India, previously Philips Lighting India, expects its EcoLink brand to expand five-fold and reach Rs 500 crore in revenue by 2023.

Signify is expanding beyond lighting and switches to include fans under the EcoLink brand, and wants to add additional items to become a value-conscious home electrical brand.

Signify Innovations has also made India a development center for the eco-friendly EcoLink brand, introduced in 2019. "We want EcoLink to be a Rs 500 crore brand by 2023," said Signify Innovations India Vice Chairman and Managing Director Sumit Joshi.

Now is the moment to invest in our front end, in building EcoLink as a brand. The go-to-market," Joshi added. EcoLink now has over 300 lighting items in its portfolio, with India being its largest market. The brand is also available in Indonesia, the Middle East, and several European regions.

Also, Joshi remarked, India is a development hub for the company and all the sectors he is entering. After fans, Signify Innovations wants to gradually extend its product line and enter other markets, creating disruption with low pricing and high quality. To introduce new items, the corporation is harnessing its R&D capabilities. "We think Fan is wonderful potential. And that's a significant category," he remarked.

This would allow Signify Innovations to use its current sales and distribution network. This is the most widely distributed brand in lighting.

"We have leverage," Joshi remarked. The new EcoLink ceiling fan collection includes over 36 items. According to the Indian Fan Manufacturers Association, fans are vital to home appliances and are present in 74% of Indian houses.