Urban Company gets board nod to explore residential AC business under Native
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- ✓Urban Company said its board gave approval to explore residential air conditioners under its Native brand on Friday.
- ✓The company said, “Our bar is clear: we will launch only with a product that is materially more compelling than what is available today.” It also got approval to raise ₹2,500 crore.
Story at a Glance
- Category
- BUSINESS
- Reported By
- CNBC TV18
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Urban Company on Friday said its board has given in-principle approval to explore residential air conditioners as a new category under its Native brand, as the home services platform looks to expand beyond water purifiers and smart locks.
The company said residential air conditioning fits its criteria for entering new categories, citing the size of the market and its experience servicing millions of air conditioning units each year. That experience, it said, has given it insights into gaps in existing products and customer needs.
Urban Company said it has been investing in research and development to address those gaps but would launch a product only if it offers a significant improvement over existing options.
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