Kolkata, Feb 11 (IANS) Consumer durables company Whirlpool India Ltd. Wednesday said it is expecting its built-in kitchen products segment to become a Rs.100 crore business by 2017 as high-end consumers are shifting to lifestyle-based home products.
"Within the next two years, revenues from these products (built-in kitchen) will account for Rs.100 crore and if the market and GDP (gross domestic product) growth remain as we expect, it will become a Rs.200 crore segment (for the company) by the next five years," said Rajiv Kapur, the company's vice president for new business and consumer interface.
The global company forayed into imported Italy-made products drawn on the lines of modular kitchen in 2008. It is now making serious attempts to gain market-share in India since the last two years.
"Our plant in Italy makes over half a million of these products a year for global consumption... we want to lead the way (in India) in this space," he said.
Kapur said the products, which include all kitchen essentials, are made for "anyone who can buy an apartment or house for Rs.one crore or more".
The company is targeting interior decorators and architects and is tying up with 50 to 60 of them across major cities. "In Delhi and Mumbai, the number of tie-ups will be higher then others," the company's vice president of south Asian strategy, Shantanu Das Gupta said.
The integrated modular kitchen products at present earn the company Rs.20 to 30 crore a year which is only one to two percent of the company's annual earnings.
"Based on current trends, our aim is to make it at least five percent by 2017," he said.
Gupta said the integrated kitchen products segment in India is growing at a pace of 20 to 25 percent annually.
The company expects to close the current fiscal year at 12 to 15 percent higher than the previous cycle. Last fiscal, its gross earning was Rs.359 crore.
EC notice to six parties on poll expenditure
New Delhi, March 18 (IANS) The Election Commission on Wednesday issued notice to six political parties, including the AAP and the JMM, for their failure to submit expenditure statements for last
Pakistan stunned by Biden's dangerous statement, summoned the US ambassador
The neighboring country has been stunned by US President Joe Biden calling Pakistan the most dangerous country in the world. On the issue of terrorism, Pakistan, which has already tarnished its image
Ranbir-Alia: Ranbir Kapoor-Alia Bhatt gave a special gift to fans on Christmas, showed the face of daughter Raha for the first time.
Ranbir Kapoor and Alia Bhatt are two of the biggest stars of Bollywood. They are one of the most popular and loved couples in the industry. Ever since their daughter Raha was born, the couple has been
Punjab elections: BJP will fight alone with full force for the first time, the central team did not get an encouraging report
Because of the Punjab assembly elections, the Bharatiya Janata Party has sounded the election bugle. The party has made up its mind to enter the electoral fray on its own in all the seats of the
Weather Update Today: Relief from scorching heat will be available soon, know when it will rain in Delhi, this prediction about UP-Bihar
The Meteorological Department has told us when it will rain in the capital Delhi. Right now, Delhi-NCR and the plains of North-West India are witnessing scorching heat. The department has said that
In the meeting held on the worsening of pollution, Delhi suggested the option of imposing a lockdown
The strict stand of the Supreme Court is in front of everyone on the level of increasing pollution in Delhi and its surrounding areas. Now on the directions of the Supreme Court, the Center has held
2400 trains will not run for 22 hours from Janata curfew / Saturday night 12 am to 10 pm Sunday, Metro in Delhi-Bengaluru and buses in Haryana will remain closed.
new Delhi. A public curfew has been announced by Prime Minister Narendra Modi on 22 March. In view of this, no passenger trains will run from 12 pm on Saturday night to 10 pm on Sunday night.
Prayagraj in Maha Kumbh: The number of devotees at Mauni Amavasya is more than in many countries, the density is shocking
More than 7.5 crore people took a dip in the confluence on Mauni Amavasya on Wednesday in the ongoing Maha Kumbh in Prayagraj. If we look at the population, forget about the states of India, this
The economic crisis in Sri Lanka: Police fired at protesters in the Rambukana area, one dead; 12 injured
One person has been killed and 12 injured in police firing in the town of Rambukana, about 100 km from the Sri Lankan capital Colombo. Sri Lankan police confirmed the shooting, saying protesters were
Militancy In Kashmir: GHM terrorist Amir, who was on his way to carry out the fidayeen attack, was killed in an encounter
Troubled by the tightening grip of security forces in the Kashmir Valley, terrorist organizations are once again planning a fidayeen attack. Mujahideen Gajwatul Hind (GHM) has taken the responsibility
