Hafele eyes 2-fold jump in India sales at Rs 1,000 cr by 2020

German home interior specialist Hafele is looking at a two-fold rise in sales to Rs 1,000 crore by 2020 on account of new product categories and growing Indian market.
"The company's revenue should go up to Rs 1,000 crore by 2020. We are quite confident to achieve that as so far we have stabled our operations in three years," Hafele India Managing Director Jurgen Wolf told PTI.
He further said: "We are trying to achieve Rs 500 crore this year for the first time by December 2016 and in the first four months we are well on target for that."

The company has grown over 40 per cent per annum in last three years on account of growing market...And introduction of the new product categories like kitchen appliances, he said.
"Our new category of appliances under the mid-premium brand Nagold is doing very well. It is more than doubling every year and giving us enormous growth and is contributing us well," he added.
Nagold has a range of built-in kitchen appliances as micro-ovens, coffee machines, dish washers, washing machines etc. It has been designed and created specifically for the Indian consumers at affordable price, Wolf said.

Besides metros, the company to achieve its target is eyeing on tier-II and III cities. It also plans to add another 20 stores to its network taking the total number to 100 by year-end.

About 60 per cent of Hafele's sales comes from the developed markets, however, company expects more contribution coming from the small clusters in the coming years, Wolf said.
"We have 80 franchise in the market selling exclusively our products, which is going to be 100 shops this year. This is the strongest expression of the brand in the retail market," he said.
Interior design market and kitchenware segment would remain sluggish till the next 18 months.
India has a vast potential and has an untapped market with aspirational customers, he said adding, "Its an expansion game here. Its about reaching places where we have not been able to reach before."

Wolf further said, Hafele imports its entire 100 per cent range but it is open for local manufacturing.
"We are also looking at manufacturing opportunities, initially with partners in India, who could produce for us. But it would not be very easy for us as consistency and quality is an issue," he said.
Hafele also offers furniture fittings, architectural hardware, electronic locking systems and technical hardware advice. It globally employs 6,900 people and has a turnover of around Rs 6,000 crore.