Parryware unveils new Crestia collection
28 December 2007
Chennai: Parryware Roca Pvt Ltd has launched a range of high-end bathroom products, branded its "Crestia Collection".
According to K E Ranganathan, managing director of Parryware Roca, the new range comprises 22 models of sanitaryware and shower solutions, all imported from Europe, China and Malaysia. They would appeal to people looking for ''affordable luxury'', according to company sources.
Ranganathan estimated the current market size for bathroom solutions at around Rs900 crore. He said the organised sector accounts for around Rs500 crore of this market, with the rest being serviced by the unorganised sector. Further segmenting the market, he said that 26 per cent of the Rs500 crore market, which translates to Rs130 crore, forms the premium category.
Ranganathan said that given the boom in the construction industry and the interior design and renovations market, Parryware is presently witnessing a growth rate of around 22 per cent. He claimed a market share of 20 per cent for the company in the premium segment alone, saying that the Parryware brand accounts for 10 per cent, and the Roca brand for another 10 per cent. The premium segment is reported to be growing at 25 per cent each year.
Parryware forged a joint venture relationship with the European brand Roca, which saw the formation of Parryware Roca Pvt Ltd in 2006. Reports indicate a turnover of Rs260 crore for the company in financial year 2006-07. The company's product range spans kitchen sinks, complete bathroom solutions including sanitaryware, bath tubs, shower and flushing systems.
According to Ranganathan, Parryware Roca currently has 3,500 products, five manufacturing facilities, 700 distributors, and a 5,000-strong retailer network. It boasts 17 customer care centres across India.