Fratelli Guzzini to enter Indian mkt; to invest Rs 25 cr
Italian home ware products manufacturer, Fratelli Guzzini plans to invest more than Rs 25 crore (5 million euro) spread over next five years.
By PTI |
NEW DELHI: Italian home ware products manufacturer, Fratelli Guzzini on Wednesday announced its foray into the Indian market and plans to invest more than Rs 25 crore (5 million euro) spread over next five years.
The company, which will concentrate on kitchen accessories products like table ware, has already entered into a marketing partnership with India's Eurolite and would enter into arrangement for shop-in-shop counters in various retail outlets.
"We are currently in talks with 8-10 retail chains, including Ebony, to showcase our products, said Fratelli Guzzini President Domenico Guzzini.
"We have already initiated talks with Shoppers' Stop for selling its products," said Akash Kakar of Eurolite. The company would initially concentrate in tier-I cities in the northern region and aims for a pan-India presence within next five years.
The company aims to increase its presence in 500 retail stores across the country in couple of years with products targeted at premium class, he said.
The product would be sourced in Italy and would be marketed in the country, he said, adding in future they would even look at setting up a manufacturing unit.
The company, which will concentrate on kitchen accessories products like table ware, has already entered into a marketing partnership with India's Eurolite and would enter into arrangement for shop-in-shop counters in various retail outlets.
"We are currently in talks with 8-10 retail chains, including Ebony, to showcase our products, said Fratelli Guzzini President Domenico Guzzini.
"We have already initiated talks with Shoppers' Stop for selling its products," said Akash Kakar of Eurolite. The company would initially concentrate in tier-I cities in the northern region and aims for a pan-India presence within next five years.
The company aims to increase its presence in 500 retail stores across the country in couple of years with products targeted at premium class, he said.
The product would be sourced in Italy and would be marketed in the country, he said, adding in future they would even look at setting up a manufacturing unit.
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