Global air conditioning, appliance giant Tosot enters Philippine market.
MANILA – Amidst the phenomenal growth in the Philippines’ retail sector, a brand of a global leader in air conditioning systems and appliances is set to bring to the country its line of innovative products.
Tosot, a premium brand of Gree, the biggest manufacturer of air conditioners in the world, was officially launched this October.
Tosot Philippines also held a grand launch, where dignitaries and executives of Gree came in full force to support the brand expansion in Southeast Asia.
Tosot Philippines General Manager Tom Balete said the brand intends to compete in the segment of the market which demand innovative and premium solutions for air conditioners, something Tosot successfully did in three continents worldwide.
The move, Balete said, is in response to growing consumer sentiment that prefers quality air conditioner brands, instead of the usual cheap but low quality products that flood appliance centers all over the land.
“We have been observing the market for years now. We noticed that in the past couple of years, many families and businesses have started to upgrade their air conditioning systems to something that goes beyond cooling their rooms. They want efficiency and quiet that cheaper products don’t have,” he said.
He explained that the penchant of consumers to upgrade their appliances could be a direct result of the growth in the country’s retail sector, marked by the increase in the number of middle class families, which allowed premium brands worldwide to enter the Philippines.
In fact, Balete said that in the Southeast Asian region, where the Philippines is a key member, analysts are predicting that the middle class is expected to triple from 525 million in 2009 to 1.74 billion in 2020.