
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.
Jamia Millia Islamia Admission: Date to fill admission form in Jamia Millia Islamia extended
JMIU Admission 2020: Jamia Millia Islamia has extended the last date of online admission form to
On Sunday, Prime Minister Narendra Modi praised his government's decision to conduct a caste cens
Neeraj Chopra's magic was also seen in the Asian Games 2023. Neeraj has added another gold medal
Amid the deepening crisis in the Corona epidemic, many states have begun to take more stringent m
While smartphone batteries are essential, their ability to charge quickly is also important. Fast
Hannover Messe to focus on Make in India, Skill India: Sushma
New Delhi, March 26 (IANS) The Hannover Messe fair, the world's largest industrial trade fair,
On the occasion of the completion of 75 years of making the Constitution, a two-day discussion wi
Bihar Board Inter Result 2023 BSEB Class 12th Scrutiny Exam Dates: The BSEB Intermediate Result i
Air Force C17 aircraft reaches Dubai with 7 empty oxygen containers, will reach Bengal after landing
The oxygen crisis in India has arisen due to the worsening situation arising during the Corona cr
The difficulties of former Prime Minister of Pakistan Imran Khan are increasing. Now his name has