SEA Group of Germany, the world's fifth largest living space solution provider, has entered into India with an initial investment of Rs 14 crore, which could go up to Rs 40 crore in two years.
Aiming to take up projects in association with large builders, mainly through the franchisee route, SEA will offer "creative, durable and high quality home interior solutions to end consumers and corporate clients", the company said. While SEA Group has long experiences in German and other European markets, it has now teamed up with leading manufacturers in Europe like bauformat Küchen to bring high quality services to India and then to Southeast Asia.
The group expects to achieve a turnover of Rs 180 crore by 2016.
With the introduction of the SEA Future Labs, it is also offering a platform to integrate German and Indian designers to develop with their customers new ideas and introduce new market trends, the company added.