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 stayed in Kanyakumari, Tamil Nadu on a spiritual journey after the p
Despite winning the Asia Cup 2025 final, the Indian team was denied the trophy after captain Sury
After losing their first match to Afghanistan in the Asia Cup 2022, the Sri Lankan team made a st
Delhi Deputy CM Manish Sisodia, who is in trouble in the matter of excise policy, has moved the S
China today maintained silence over India's absence in the vote at the United Nations Human Right
The audience is eagerly waiting for Aamir Khan's much-awaited film 'Sitare Zameen Par'. After the
New Delhi, JNN. Horror films have a strong fan following in India as well, which delights in bein
Heavy Rainfall Alert has worsened the situation in many states of the country. In some states, th
Nikki's murder case has given rise to many such questions, whose answers have become necessary fo
Mumbai Police has beefed up the security of Salman Khan. This step has been taken after a secret
