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Germany's SEA Group, engaged in the living space solutions segment, is planning to invest Rs 40 crore over the next two years in its Indian operations.
“Currently, SEA Group has invested Rs 14 crore and has earmarked Rs 40 crore in the next two years to achieve leading position in India in delivering creative, durable and high-quality home interiors' solutions to end consumers as well as to corporate builders," said SEA Group Managing Director Alex Sofalvi.
On the market size of the kitchen segment in India, Sofalvi said that it is now around Rs 2,000 crore and is likely to touch Rs 5,000 crore in the next five years. “We expect to tap at least 10 per cent of this huge market in the next five years.
We have accordingly planned to widen our franchisee network from four in the next two months to 35 (outlets) in 25 cities in the next three year period,” he added.
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