Bangalore, Nov. 17 American shower heads and faucet brand Moen will enter the Rs 1,200-crore sanitaryware and bathroom solutions market with its mid-to premium range of products.
The company is also setting up an assembly unit near Chandigarh to push its plans to have at least 40 multi-brand outlets across 15 cities by March 09, according to Mr David Lingafelter, President, Moen Incorporated.
Moen, which is a $1-billion brand globally, has about 28 per cent market share in the US and 40 per cent market share in Canada.
The brand also has a presence in Latin America, Mexico and China.
In India, Moen is already available through two flagship stores; one each in Delhi and Bangalore.
“Our priority now is to give the Indian market quality products through a well-organised supply chain system and so we are setting up the assembly unit, which is expected to start functioning in two years,” Mr Michael Koon-Hing Hui, Vice-President, Asia Pacific, Moen Inc, said.
Moen’s range of products includes bathroom faucets, showering equipment, kitchen faucets, kitchen sinks, commercial faucets and bath accessories.
With products priced between Rs 10,000 and Rs 2.5 lakh, Moen India is eyeing the retail market and the growing hospitality industry in the country.
The Indian faucet market is estimated to be worth about Rs 100 crore.
“We’re in talks with leading developers across the country for supply of our products,” said Mr Smarty Pal Singh, National Head, Sales and Marketing, Moen India.
6 months ago