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Hind Sanitaryware enters home interior retail biz

Our Bureau

New Delhi, Jan. 16 Hindustan Sanitaryware and Industries Ltd (HSIL) on Wednesday announced its plans to foray into the home interior solutions retail business through its newly formed wholly owned subsidiary Hindware Home Retail Ltd (HHRL).

Mr Sandip Somany, Joint Managing Director, HSIL, said, “We plan to invest Rs 250 crore over the next four to five years to open 50 stores across the country. In fact, HHRL will leverage the core strengths of the Group in understanding diverse consumer and trade behaviour, retail distribution network, brand equity, global sourcing and cost-effective supply chain management, which are critical success factors in this sector.”

The company will open 30,000 sq ft of home interior solution outlets, brand named Evok pan India over the next few years. “The format will function under three instore verticals — Evok Living, Evok Bath and Evok Kitchen.”

While the Evok Living vertical will have interior solutions from furniture to fabric for all the rooms in the house, Evok Bath will have all facilities from tiles to taps and tiles for bathrooms and Evok Kitchen will provide customers with options of custom designed fully functional kitchens according to their specifications, complete with accessories and utensils.

The venture will focus on the lower mid-segment to mid-upper segment consumer group and aspires to attain market leadership in these consumer segments in near future. The first outlet will be opened in Faridabad in the next four weeks, followed by Gurgaon in April and then in Jaipur, Lucknow and Chandigarh. Roll out in the south will begin in 2009. HHRL hopes to achieve a total retail area of 1.2 million sq ft in the next five years, with target revenue of nearly Rs 400 crore.

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