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.
Continuation of the decline in the active case of Corona in the country continues for six consecu
Another most eligible bachelor of Bollywood is going to tie the knot soon. Yes, we are talking ab
Huge discount on iPhone 12 Mini, chance to buy just 33 thousand rupees!
Apple iPhone 12 Mini Discount Offer: Apple has recently launched its latest iPhone series 13, whi
Salaar Day 12 Collection In India: Veteran South Cinema filmmaker Prashant Neel's most awaited mo
Mamata launches Digitised Ration Cards in Bengal
Kolkata, March 17 (IANS) West Bengal Chief Minister Mamat
New Dhansu phone launched for just 10 thousand rupees, will get a 50MP camera and 13GB RAM
Amazon Deal On Smartphone: Another phone has been launched in the segment of 10 thousand, the Tec
Dr. Harsh Vardhan told 7 states - focus on reducing deaths; Modi spoke to WHO chief
The country's Union Health Minister, Dr. Harsh Vardhan, on Wednesday, asked the 7 state governmen
PUBG Game: PUBG is the most played battle royale game in the world. Its popularity is continuousl
Imran Khan, the former Prime Minister of Pakistan, is going to sit on an indefinite dharna today
A horrific road accident took place in Maharashtra on Friday morning. According to the informatio
