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.
INS Vikrant: Can India once again make a Rafale fighter jet deal with France? This question is be
A complete schedule of Mumbai Indians in IPL 2022 like this, know when MI will play against whom
The Board of Control for Cricket in India (BCCI) has announced the full schedule of the 15th seas
Tulips in full bloom at Mughal Gardens
New Delhi, Feb 13 (IANS) Around 10,000 varieties of tulips in six different colours, along with
Today Chandrababu Naidu will take oath as the Chief Minister of Andhra Pradesh. On Tuesday, TDP a
The period of confusion that started in Rajasthan after the election results were announced on De
Prime Minister Narendra Modi remembered those who were affected during Partition on the occasion
In the Adani-Hindenburg case, the Supreme Court has constituted a 6-member expert committee
Tomorrowland Music Festival: Big accident before the festival, huge fire on the main stage.
Extensive preparations were going on for the Tomorrowland Dance Music Festival in Boom, Belgium.
After Russia attacked Ukraine, trouble has come on the Indians living there. Thousands of Indian
Finance Minister Nirmala Sitharaman will hold a meeting with the heads of public sector banks (PS
