Oct 27, 2018
In the next five years large kitchen appliances company Franke Faber India Pvt Ltd (FFIPL), a wholly-owned subsidiary of the Franke Group based in Switzerland, is aiming to touch theRs.1,000 crore.
Franke Group is a global provider of solutions and equipment for , professional food service sector, residential kitchens and bathrooms, among others.
The company believes that India offers significant opportunities and has a huge growth potential. And according to Jurg Fischer, Global Chief Financial Officer (CFO), Franke Group, they are looking to accelerate their investments in the country significantly and their plan is to grow Indian business to Rs.1,000 crore in the next five years.
FFIPL hopes to close this year with turnover of Rs.260-270 crore. But it will invest in expanding the sales force, retail sales network, enter relevant new categories and grow overall market position in India.
The company plans to enter the small domestic appliances segment by next year. It also believes there is significant opportunity to launch its professional coffee machines in the country. They have already set the foundations of kitchen equipment business for the professional food service industry such as QSRs.
The company is also betting big on its experience centres, the Platinum stores, to showcase its portfolio of premium kitchen appliances and plans to have 25 Platinum stores in the next few months, which is a part of the company’s strategy to consolidate its brand position in the premium kitchen appliance segment.
Unlike other international kitchen equipment makers, FFIPL manufactures products such as kitchen sinks, hoods and hobs in the country. The company plans to leverage on its manufacturing footprint to make India an export hub to serve other markets.