
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.
Demat Accounts: Fast growing investors, 48 lakh Demat accounts opened in CDSL in the last quarter
The number of investors in the stock markets of the country is continuously increasing. In the qu
Indian Railways has always been making special arrangements for the passengers on festivals. Keep
There will be a trend to watch the cinema in the sky between Corona!
In early May, the British newspaper 'Guardian' published a news on its website with pictures show
56 pieces of the body, some cooked and eaten, sensational revelations in Kerala's sacrificial case
There has been a stir in Kerala after the case of human sacrifice due to black magic came to ligh
Support for the Waqf Amendment Act proved costly, mob set BJP leader Askar Ali's house on fire.
In Manipur, BJP leaders had to pay a heavy price for supporting the Waqf Amendment Act. The mob s
Royal Challengers Bangalore has won the IPL 2025 title. In the final, RCB defeated Punjab Kings b
Update for lakhs of candidates preparing for the GATE 2024 exam. The admit card (GATE Admit Card
Female wrestler Babita Phogat has advised the three anti-agriculture agitators to stay away from
Turkiye trapped for helping Pakistan, RSS's affiliate organization demands ban; Appeal for boycott
During the conflict between India and Pakistan, the Turkish government openly supported Pakistan.
Russia-Ukraine War: Ukraine did a drone attack on Russia, blacking out in Bryansk region
The Russia-Ukraine war is about to complete a year, but the war between the two countries is stil