Financial Daily from THE HINDU group of publications
Thursday, Mar 30, 2006
Financial Daily from THE HINDU group of publications Thursday, Mar 30, 2006 |
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Marketing
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Retailing Hindware plans more boutiques Our Bureau
MR SANDIP SOMANY, Joint Managing Director, Hindustan Sanitaryware & Industries Ltd.
Chennai , March 29 The Rs 400-crore Hindustan Sanitaryware and Industries Ltd plans to increase its retail presence with 20 more boutiques in the next six months, according to Mr Sandip Somany, Joint Managing Director. Hindware has 23 boutiques and two larger outlets positioned as `arcades'. The second arcade, which is about 3,000 sq ft in area, was inaugurated in Chennai on Wednesday. Mr Somany said the company was moving towards becoming a total home solutions company. Seven months ago, Hindware entered the kitchen solutions market with hoods, hobs and sinks. The company offers a range of bathroom solutions. Mr Somany said Hindware has a market share of 35 per cent with two strategic business units, building products and the packaging products division. He said the company was gearing up to meet the challenge of international brands present in the market. He said Hindware had introduced 80 new products recently and invested about Rs 250 crore in upgrading its manufacturing units. The company is also sourcing products from dedicated manufacturers in India and aboard.
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