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.
A stampede-like situation arose in the Prayagraj Maha Kumbh Mela on Wednesday morning after lakhs
AAP doing Politics of Religion: BJP
New Delhi, Feb 6 (IANS) The BJP Friday accused the AAP of doing politics of religion, adding th
Prime Minister Narendra Modi today launched a year-long commemoration to mark the 150th anniversa
Conclave to seek solutions for transforming public libraries
New Delhi, March 14 (IANS) A conference-cum-workshop in the national capital beginning on March
Fear of terrorist attack in Pakistan: America told its citizens – to vacate Hotel Marriott soon
The US Embassy in Pakistan has issued a security alert for its citizens. After the suicide attack
Ukraine's war and inflation pose a threat to the global economy. The International Monetary Fund
The 17th season of IPL, one of the world's oldest franchise-based T20 leagues, is being played. C
Congress leader P. Chidambaram on Tuesday said that the BJP's manifesto for the Lok Sabha el
US Election: What will Biden do if Trump refuses to leave the White House?
In America's 244-year history, there has never been a president who has refused to leave the Whit
Chief Minister Yogi Adityanath on Monday targeted the opposition while counting the achievements
