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Lifestyle home accessories brand Magppie has marked its entry into modular kitchens and bars. Priced at Rs 15 lakh and above, these kitchens come with a high degree of technology and are targeted at high net worth individuals.
Magppie was launched in 1999 as a home accessories brand. The company has about 15 mono brand outlets.
“There is a change in the buying pattern of Indian consumers. Consumers are a lot more experimental now. We have grown with our home accessories range and wanted to widen our ambit. Kitchen was a natural progression for us,” said Mr Vinod Jain, Director, Magppie. The company offers nearly 400-500 different types of products under its home accessories umbrella.
This in some ways is like a second coming in the kitchen segment for Magppie. Mr Jain said that Magppie had launched its kitchen range in 2007 under the Icecube brand. However, it didn't take off then. “We have diluted Icecube brand and merged it under the Magppie label. Kitchen is a low volume but high margin business. We expect a three-fold rise in our revenues from this segment,” Mr Jain said without divulging the revenue details.
Magppie said it has set up Rs 60 crore manufacturing unit in Kundli near Sonepat in Haryana for its new kitchen range. The facility can produce about 60 modular kitchens a day.
The company has another unit, also in Kundli, to manufacture its home accessories range. The design element into the kitchen has been added by German, French and Italian designers and mixes functionality with aesthetic.
Asked about the retail strategy, Mr Jain said Maggpie will be setting up standalone formats to retail its kitchen range. Also services such as installation of hobs, accessories and hardware will form a core of its retail strategies. “We will be dealing with B2C customers rather than focussing on institutional sales,” he added.
Last month, Arttd'inox, the lifestyle brand from Jindal Group also added modular kitchen business to its existing line of products.
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