Jaipan Ind enters into 50:50 JV with Spain's Sogo

Home appliances major Jaipan Industries has entered into a 50:50 joint venture with leading international brand Sogo and is eyeing a Rs 15 crore turnover in the next 12 months.

"Under this JV we will market 35 Sogo products in the country and we are hopeful of achieving a Rs 15 crore turnover in the next 12 months, starting now," Jaipan Industries Director Atin Agarwal told PTI here.

Sogo, a global home appliances brand, is headquartered in Spain and its product range spans more than 500 products.

Some of the Sogo products that Jaipan will market in India include electric tooth brushes, walkie talkies, steam cookers and deep fryers.

"We will market the Sogo products in India. After one year, we will take a decision on expanding them to other countries where we are present," Agarwal said.

Jaipan Industries has pledged about Rs 50 crore for this JV, which will be given in tranches, he said.

The company also plans to expand to its international presence. "We are looking to expand our presence in Asia and Africa," Agarwal said.

The company has home appliance manufacturing facilities at Mumbai and Silvasa and vendors in Himachal Pradesh, Haridwar, Rajkot, Bangalore and China.