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| Novellini aims for sales of 2.5 mn euro in India by 2010 |
| Press Trust of India / New Delhi Jun 09, 2009, 15:16 IST |
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Italian premium wellness and bath solutions player Novellini is aiming at a sales of 2.5 million euros (around Rs 16.5 crore) from the Indian market by 2010.
Novellini, Europe's largest manufacturer of shower enclosures, is also planning to spend one million euros (around Rs 6.6 crore) in India for marketing its products over the next three years.
The 190 million-euro company, which today announced its foray into the Indian luxury bath solutions market in a dealership agreement with Cera Sanitaryware, would start with 32 products from the range of shower enclosures, equipped panels, bath tubs and shower temples, is also planning to increase its portfolio in the country over next few months.
"The venture into India is a follow-up to our foray last year into the markets of Dubai and Brazil and part of our plan to expand beyond Europe. India is the market of future and our plan is to have sales of 2.5 million euro here by 2010," Novellini CEO Marco Novellini told reporters here.
He said the company has entered into an exclusive dealership agreement with Indian sanitaryware player Cera, under which all its products would be sold through Cera's exclusive 'bath studios' and selected dealership network.
"We want to emerge as the market leader in the multi- million-dollar Indian premium bathroom solutions market. As part of this, we plan to invest euro one million for marketing in the country over next three years," Novellini said.
Novellini currently produces 12 lakh units of shower enclosures and two lakh units of wellness products annually, mostly for sale in the European market.
"We would start with a range of 32 products initially but by the end of 2009 we will bring in a range of new items from Italy into the Indian market," Novellini said.
All the company's products would be sourced from Italy. Asked if Novellini would think of setting up manufacturing base in India in future, he said: "Why not? But first of all, we want to establish our foothold here."
"We hope to use India as a stepping stone for our planned foray into the markets of South Korea, Australia and other countries in Asia-Pacific region," Novellini added.
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