Bosch and Siemens Household Appliances (BSH) is targeting 50 per cent rise in its sales this year, driven by its newly launched premium range of built-in kitchen appliances.
“With the launch of the iQ700 premium range of kitchen appliances, we are targeting a 50 per cent increase in our overall sales this year,” the company MD and Chief Executive, Gunjan Srivastava, told PTI.
He added, “We expect this premium built-in kitchen appliances segment to be a key contributor to our turnover with a 40 per cent growth this fiscal.”
He attributed the growth to consumers “upgrading lifestyle” and a heightened influence of culinary shows and entertainment which “positions the kitchen as an extension of the living room’’.
The portfolio of iQ700 products include ovens, coffee centre, warmer drawers and dishwashers.
The range will be sold through over 200 kitchen dealer networks, Siemens brand stores and through the project channel for premium developers, the company said.
The company also plans to open up to six more Siemens brand stores by December-end taking the number to 30, while 10 more Bosch brand stores will also be opened, Srivastava said.
The Bosch brand serves the mass premium segment, whereas Siemens is for the premium segment, he said, adding that both the brands contribute equally in percentage of sales.