Crompton aims to attain Rs 400 cr market

Bengaluru, June 23: India’s leading consumer electrical brand Crompton Greaves Consumer Electricals Ltd has forayed into the built-in kitchen appliance segment by showcasing its luxury products here to attain a market size of Rs 300-400 crore in three years.
Bengaluru is the second city in the launch sequence. In the coming weeks, the products will be launched in the top 10 metros across India.
“We aim to attain a market size of Rs 300-400 crore in three years. We are significantly investing and scaling up our capabilities in this space. Leadership is in our DNA and we are looking forward to winning this segment with our differentiated value proposition,” Crompton CEO and Executive Director Mathew Job told reporters.
The company has launched its range of chimneys, hobs, built-in ovens, built-in microwaves and dishwashers.
The company for now is sourcing the products from countries like China and Turkey, Job said, and added that the company expects 70 per cent of business from offline channels because of the nature of the categories.
In terms of distribution, there are the kitchen stores that are multi-brand in nature, with the company also setting up its premium exclusive brand outlets called Crompton Signature Studios, he said. There are three in Pune and the focus will be on the top 10 cities.
Crompton Vice President (New Business) Nitesh Mathur said the company has built a deep understanding of its target consumer segment and will target them with a differentiated product range.
The company has received a good response from the channel with several leading modular kitchen dealers and multi-brand outlets onboard, he said. “Additionally, we are also setting up premium exclusive brand outlets Crompton Signature Studios,” Mathur added.