Whirlpool Kitchen Products Segment to be Rs.100 Crore by 2017


Posted on 12th Feb 2015 01:29 pm by mohit kumar

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.

0 Like 0 Dislike
Previous news Next news
Other news

Arvind Kejriwal: Political turmoil continues on CAA, Kejriwal said - BJP brought CAA for electoral gains.

The Central Government has issued the notification to implement the Citizenship Amendment Act i.e

Weather Update: Severe heatwave condition in Delhi- UP- MP, heavy rain alert in these states, know-how will be the weather in your area today

Severe heat wave conditions are prevailing in various states of North and Central India. The temp

In AIIMS, 10 thousand registrations were done in 10 hours; But only 100 healthy people aged 18 to 55 years are getting the vaccine

The human trials of the country's first self-vaccine vaccine starts in AIIMS Delhi on Monday. AII

Chhath Puja 2023: Today is the second day of Chhath Puja, know the religious importance of Kharna Puja and the rules of Prasad.

Chhath Puja 2023: Chhath Puja fast has special significance in Sanatan Dharma. This special festi

India USA: 'India-US relations will be decisive for the 21st century', MP said - togetherness is necessary to deal with China

A senior US lawmaker says that for democracy, technological development, and a strong economic sy

Kashmir floods: Army help not to be taken as yet

Jammu, March 30 (IANS) The Jammu and Kashmir government on Monday said that as of now it has no

Army chief: Army Chief said- Terrorism is getting support from across the border, we are ready to deal with any situation

Before Army Day, Army Chief General Manoj Pandey said that this time's event is special. Because

Christmas week was bad around the world, corona cases increased by 11%; Threat of the third wave in India

There has been a rapid increase in the cases of coronavirus across the world. In the week ending

The world giggles over record vaccinations: Reuters says best gift to PM Modi, New York Times praises such

India achieved an important achievement in the fight against Coronavirus on 17 September (Friday)

Judiciary: President unveiled new flag and symbol for Supreme Court, said this on pending cases

President Draupadi Murmu on Sunday stressed the need to change the culture of dates in courts and

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash