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Crompton is betting on its new Built-in Kitchen Appliances to attain a market size of Rs. 300-400 crore in three years.
At the launch of a studio store, Mathew Job, CEO and Executive Director, Crompton Greaves Consumer Electricals Ltd (CGCEL), told BusinessLine the aim is to add 30-40 studio stores in tier-one cities, which are the target market, he added.
The company is to launch four “Crompton Signature Studios” In Bengaluru, with three more in the pipeline. Along with the store launch, it unveiled a range of 38 products comprising chimneys, gas hobs and built-in ovens, in the range of Rs 15,000-Rs 80,000. The company also claims to have built the world’s first gas stove with a timer.
While its competitors in the kitchen appliances business are building a strong online presence, Crompton plans to build its business through offline stores. Job said they expect 70 per cent of business from offline channels because of the nature of the categories.
The company, which has manufacturing units in China, is considering shifting them to India in the coming years. The CEO said South India is their biggest market. In fact, “30-40 per cent of sales come from the southern region, and keeping this in mind, we would definitely have one in the south.”
About three months ago, the company acquired Butterfly Gandhimathi Appliances. Crompton Greaves Consumer Electricals Ltd has been in the fans, water heaters, lighting, and domestic pumps market for the last 80+ years.
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