Parryware taps into new range, to open new retail outlets
13 August 2004
Hyderabad: Parryware, the bathroom fittings division of Rs600-crore EID Parry (India), has for the first time entered the Rs60 crore taps segment and is launching products in nine categories. The company is also opening two more exclusive company outlets in Hyderabad and Delhi during the current financial year.
The Delhi ''experience centers'' will come up in the next three to four months while the one in Hyderabad would be inaugurated by the end of the year. The company has already set up three experience centres in Mumbai, Bangalore and Chennai. Parryware has a 38 per cent market share in the sanitary segment in the country. Parryware taps have been launched in Tamil Nadu and Karnataka and Andhra Pradesh is the third market Parryware is entering for its taps category.
By the end of the year Parryware is likely to go in for a national launch in the category and expects to capture around 10 per cent of the market share in the segment in the next three years. The company expects the taps division to contribute around Rs15 crore to the total turnover during the current financial year.