Financial Daily from THE HINDU group of publications
Saturday, Feb 18, 2006
Financial Daily from THE HINDU group of publications Saturday, Feb 18, 2006 |
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Marketing
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Market Shares FnS targets 25% share of cutlery market Our Bureau
Hyderabad , Feb. 17 FnS India, the new entrant into the domestic cutlery market, expects to capture approximately 25 per cent of the organised cutlery market during the first full year of operations and double it to 50 per cent over the next five years, according to its Director, Mr Adish Jain. Addressing newspersons here on Wednesday after unveiling the FnS range of cutlery, Mr Jain said the Rs 125-crore domestic cutlery market is dominated by the unorganised sector to an extent of over 90 per cent, while the organised sector accounts for less than 10 per cent. Taking into account the growing young salaried middle class segment with surplus incomes, the company has decided to focus on middle class and upper middle class. Available in sets of 18, 24 and 26 pieces, the FnS cutlery range is priced between Rs 500 and Rs 6,000. Besides this, the range is also being made available in individual cutlery sets of six pieces each with starting price of Rs 95 per set. The company is making its product range available in leading lifestyle stores, super markets and top-of-the-line crockery and utensils stores across the country, he said.
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