Roca of Spain has entered into a 50:50 joint venture partnership with Parryware Glamourooms. Roca brand products will now be marketed in India by the JV, and the list includes premium brands like Laufen.
Speaking to the media, Domingo Colomo, Senior Managing Director of Roca, said, “India is one of the key emerging markets that the world is noticing today. With the opening up of the economy, we are delighted to give Indian consumers an exposure to world-class bathroom products to enhance standard of living. Our foray into the Indian market with the trusted name of Parryware gives us immense confidence and credibility. We are committed to growing the Indian market and will rapidly strengthen our position as the No. 1 player in India.”
Parryware has a market share of around 42 per cent in the organised sector in its domain. The overall market is estimated to be in the region of Rs 750 crore for sanitaryware in India, with the organised sector accounting for around Rs 350 crore.
Said Vellayan, Vice-Chairman, EID Parry (India) Ltd, “By joining hands with Roca, now becoming the world’s No. 1 player in bathroom products, we are well poised to usher in an era of innovative bathroom products that will continue to transform bathrooms to ‘glamourooms’. The new company will symbolise business dynamism with innovation, reinforcing our commitment of providing the best bathroom products to our trusted customers.”
Roca is a leading player in the world in the business of the bathroom ceramics industry. With a commercial presence in more than 120 countries, it boasts of a group turnover amounting to nearly Rs 8,500 crore. With this joint venture, Roca will become the world’s leading sanitaryware maker.
Heralding the new venture, K E Ranganathan, Director, Parryware, said, “The Indian market for world class bathroom products has opened up. Prestigious institutional customers of Roca like Le Royal Meridien, Hilton, Carlton, Radisson SAS, Hyatt Regency, etc, are setting up several star hotels in India. They can look forward to their favorite Roca brand products in India. In addition to this, the world’s most premium brand, Laufen, will also be marketed in India by the JV. The best of the contemporary range of European bathroom products will now be easily available to the Indian customer with the assured service backing of their favourite Parryware.”
In the last 12 months, Parryware has launched several technology-driven bathroom products addressing consumer needs on water-saving, hygiene and aesthetics. Within the second year of launch into the taps and fittings accessories market, Parryware has captured a 5 per cent market share in these markets, said a company release.
From being a sanitaryware brand, Parryware, a part of the $1.5 billion Murugappa Group, is consciously transforming itself into a total bathroom solutions provider.