HSIL forays into consumer products biz with Groupe Atlantic

Sanitaryware firm HSIL today announced its foray into consumer products business with France's Groupe Atlantic by launching a range of water heaters in the country and is eyeing up to Rs 250 crore revenue from the new segment.
"We have entered into an exclusive distribution tie-up with Groupe Atlantic to sell their water heaters in India. We are targeting Rs 200-250 crore revenue from water heaters in three years time," HSIL Ltd Joint Managing Director Sandip Somany told reporters here.
He added: "Groupe Atlantic and HSIL worked for close to three years to study the Indian market, did extensive consumer and trade connect to arrive at this superior product offering. Now, we are ready to expand and tap this opportunity."

Somany added that both the companies may also look at forming a joint venture in future after its volumes are large enough.
"Our distribution agreement is for Groupe Atlantic's entire product range. We are also looking at launching more of their products suitable for Indian market," he added.
HSIL will leverage its existing distribution network to market water heaters.
These water heaters, imported from Groupe Atlantic's global plants, will be available in the price range of Rs 4,000 to Rs 12,000.