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.
Prime Minister Narendra Modi on Friday joined the Shanghai Cooperation Organization (SCO) summit
Corona cases have decreased once again in the country. The Health Ministry said that in the last
Civil Aviation Minister Jyotiraditya Scindia on Thursday said that the government is focusing on
Police have arrested a person who duped youth in the name of police recruitment by becoming a fak
People's participation key for tiger conservation: Javadekar
New Delhi, March 18 (IANS) Environment Minister Prakash Javadekar said on Wednesday that e-surv
Between 2016 and 2021, Congress has suffered the most. Meanwhile, 170 MLAs from different states
Security forces have tightened their grip on the terrorists who are trying to create unrest by ta
China is negotiating on one side to resolve the border dispute in Ladakh, while on the other hand
Coronavirus Cases & Recoveries
Coronavirus Cases:
283,748
Deaths:
11,833
Recovered:
93,564
Coronavirus C
While the global economies are heading toward recession, on the other hand, the central world is
