Comments
Sanitaryware company HSIL Ltd has forayed into the water heater segment under a co-branded marketing arrangement with French company Groupe Atlantic.
Sandip Somany, Joint Managing Director, HSIL Ltd, said “We want to be among the top three brands in the next three years. We are eyeing revenues of ₹200-250 crore in the next three years from the water heater segment.”On Wednesday, the company launched a range of water heaters under the brand “hindware-atlantic.” It will be importing these water heaters from Groupe Atlantic’s global plants. Somany said the two companies have been working for three years to study the market and are now ready to expand and tap this opportunity. “This is the first step of the partnership where we will be launching co-branded water heaters,” he added.
Growing opportunityGiles Romagne, Managing Director, Groupe Atlantic, said the water heater market in India is expected to cross $300 million in FY16 and provides an extensive opportunity for growth and expansion.
HSIL has also tied up with Snapdeal to sell these water heaters, priced in the range of ₹4,000-12,000, through the e-commerce route along with retail.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.