New Delhi: Hansgrohe India, the newly-formed subsidiary of the German plumbing products major Hansgrohe, has set its sight on the booming renovation market in India, apart from residential and institutional sales.
Looking to glamourise bathrooms with its range of high-end products, the company will reportedly invest around Rs5-6 crore for marketing and branding activities.
Reports indicate that the company considers renovation as a big market. According to industry sources, global trends show that bathrooms are remodelled thrice during an individual's lifetime, which is a very visible trend in India as well, as innovative designs, technology, and consumer preferences are propelling the growth of sanitaryware business across the country.
Hansgrohe has been present in India since 1999, via its association with domestic sanitaryware company Jaquar. Its product range was marketed through Jaquar's top 100 dealers.
According to reports, the association with Jaquar is all set to capitalise on some synergies, with Hansgrohe India looking at training the team and building brand awareness, and Jaquar focusing squarely on sales.
Reports also estimate the overall sanitaryware market in India at around Rs800 crore, and displaying a growth rate of 30-40 per cent annually. Industry sources indicate that bulk buyers and institutional sales would be critical to the new entrant, given their triple value offerings of glamour, service and experience of the Hansgrohe brand.
The subsidary is reported to be set to establish offices in New Delhi, Bangalore and Chennai. Hansgrohe's range of complete bathroom accessories are priced starting Rs5,000, and going to Rs3 lakh. Globally, the company has around 26,000 products in its portfolio, and reports indicate the company's turnover at €569 million in 2006.