International Faber Heatkraft aims at smaller market to fuel growth

Faber Heatkraft aims at smaller market to fuel growth

Author | NULL | Monday, Jan 01,1900 11:08 AM

Faber Heatkraft aims at smaller market to fuel growth

In an attempt to drive growth in the kitchen equipment market, Faber Heatkraft has decided to tap smaller territories. The decision to tap smaller towns and not just metros and mini-metros is driven by the objective of being the first to bring this concept in the untapped market.

The Rs 32-crore Faber Heatkraft, in which Faber SpA of Italy holds 51 per cent equity, has begun appointing distributors in smaller markets such as Madurai, Nasik, Kolhapur, Bikaner, Ajmer and Raipur.

In addition to tapping fresh territories, the company has also identified key markets such as Delhi, Chennai and Bangalore to increase its brand presence.

Apart from electric kitchen chimneys, the company's current portfolio comprises built-in hobs, cooktops, cooking ranges and kitchen sinks. While the current year will not see the company diversifying into any fresh categories, Faber Heatkraft intends to add more products within its existing range.

On the retail front, Faber Heatkraft intends to be operating through 50 Gallerias by the end of the current calendar year, against the existing 16 such outlets. An investment of Rs 5-6 crores has been set aside for the retail expansion exercise.

Chimneys account for 50 per cent of the company's sales, with hobs and cooking ranges accounting for the rest. Faber Heatkraft faces competition from brands such as Glenn, Kaff and Deeshe. Players such as Whirlpool are also expected to join the fray subsequently.

Tags: e4m

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