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Our Bureau

The cutlery market in India is largely unorganised and has only one other branded Indian player

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Bangalore Feb. 5 FnS India Inc, which launched its cutlery brand FnS about 16 months ago, is eyeing a 50 per cent market share by 2010. The cutlery market, valued at about Rs 25 crore today, is expected to touch Rs 60 crore in three years.

FnS expects to close 2006-07 with a turnover of Rs 6 crore, which is about 25 per cent of the current market. "Though cutlery is still a low-involvement buy in the country, we're pushing ourselves hard to change that," said Mr Adish Jain, Director, FnS India Inc. The company is planning a foray in the export market by 2008, he said.

The cutlery market in India is still largely unorganised and has only one other branded Indian player. Though northern India is an encouraging market because of its preference for lifestyle-oriented products, Mr Jain is hoping to cash in on the changing trends in the South and East too.

"Indians spend a lot of money on crockery but when it comes to cutlery, they are hesitant," said Mr Jain. Globally, consumers spend equally on crockery and cutlery. In India, the crockery market is estimated to be in the range of Rs 500-550 crore and the cutlery market just about five per cent of that.

FnS designs its cutlery in-house and outsources its manufacturing to factories both in India and China. FnS forks, knives and spoons are priced between Rs 15 and Rs 200 and are available across 700 outlets in 75 towns in the country.

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