Leading Sanitary-ware company HSIL Ltd. said on Monday said it has forayed into the water heater business with its partnership with French company Groupe Atlantic. As part of its new strategy the company entered into a co-branded marketing arrangement with the French company.
With the co-brand hindware-atlantic, the company expects a revenue of around Rs. 200-250 crore and also 10 per cent market share of the total water heater market in the country. HSIL also plans to become one of the top three players in this category within next three years.
Speaking at the launch, Rakesh Kaul, President & Chief, Consumer Business, HSIL Ltd, said, “We are excited to bring to the India market a new product category, water-heaters. Groupe Atlantic of France is a specialist in thermal comfort technology and brand ‘atlantic’ holds the top position in France and among top five brands across Europe.’
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The new range with a capacity from one litre to 100 litre capacity, water heaters and are priced between Rs 4,000 – 12,000 and the company will start marketing the product from second half of July. The company also said it expects around 15 per cent of HSIL's total revenue will come from the newly formed consumer business which includes water heaters and kitchen appliances and cooker hobs.
With plans to expand distribution network, the products will be available across key retails outlets of electrical and organized retail. Additionally, HSIL has signed an exclusive online agreement with Snapdeal.